Sarbanes-Oxley, The Supreme Court and America’s Economic Future

Join us for this informative and important discussion about what the upcoming Supreme Court decision on the Sarbanes-Oxley Act means for the U.S economy, competitiveness, and the job market.

Space is limited and we are expecting the event to fill quickly. To guarantee a seat, please RSVP to [email protected] (or contact Jonathan Moore at 202-331-1010 ext. 303).

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On December 7th, the U.S. Supreme Court will hear Free Enterprise Fund v. Public Company Accounting Oversight Board, a lawsuit that challenges the constitutionality of much of the Sarbanes-Oxley Act of 2002. The law, which was rushed through Congress after the Enron and WorldCom scandals, created numerous corporate governance and accounting rules that have been criticized by members of both parties as excessively burdensome to smaller companies, detrimental to U.S. competitiveness, and ill-equipped to protect shareholders from fraud.

On December 1st, the Competitive Enterprise Institute (CEI), whose attorneys are co-counsel to the plaintiffs in the court case, will be hosting a panel to discuss the legal and economic aspects of Sarbanes-Oxley. As the Court is considering the case, bipartisan efforts are underway in Congress to exempt small and middle market public companies from certain Sarbanes-Oxley accounting mandates. An amendment to grant a permanent exemption from Sarbanes-Oxley rules to companies with a market cap of less than $75 million recently passed the House Financial Services Committee with the surprise endorsement of the Obama administration.