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Tuesday, September 13, 2005

SEC delays Sarbanes-Oxley for small firms: WSJ

The Securities and Exchange Commission is expected to give small companies another year to comply with a Sarbanes-Oxley rule intended to improve financial reporting controls, the Wall Street Journal said on Tuesday.

Citing people familiar with the matter, the newspaper said the SEC, which in March agreed to a one-year delay for small businesses, plans to grant another year-long reprieve later this month.

The relief would give companies with a market capitalization of up to $75 million until July 2007 to comply with the rule, the report said. An SEC spokesman declined to comment.

posted by Brian Moran @ 8:34 AM   0 comments

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