SEC Cox Hearings Highlight Sarbanes-Oxley Burdens
Contact for Interviews: <?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” />
Richard Morrison, 202.331.2273
Christine Hall, 202.331.2258
Washington, D.C., July 26, 2005—The Senate Banking Committee holds hearings this week on the nominations of Christopher Cox to be Chairman of the SEC, as well as that of two Democratic Commissioners.
CEI Warren T. Brookes Journalism Fellow John Berlau and CEI staff attorney Hans Bader are available for comment on the burden of Sarbanes-Oxley to businesses, workers, and investors, and what the SEC and Congress should do about it.
Berlau and Bader urge Cox to use the investigative skills he honed in Congress to hold accountable the Public Company Accounting Oversight Board (PCAOB) created by Sarbanes-Oxley.
In a forthcoming paper, Berlau and Bader argue that members of the Public Company Accounting Oversight Board (PCAOB), which regulates the way businesses are audited, are appointed in an unconstitutional manner. The result is lesser quality appointees and regulations that are vulnerable to court challenge.
The authors say Cox should replace current appointees and change the appointment process.
Sarbanes-Oxley Experts Available for Interviews
CEI staff attorney
202-331-2278
Warren T. Brookes Journalism Fellow
202-331-2272
Internet Lessons for the SEC—Look to eBay and Amazon as a Model for a National Market System By John Berlau