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Former SEC chairmen defend Sarbanes-Oxley

Former SEC chairmen defend Sarbanes-Oxley

by Rick Turoczy on February 22, 2006

A quartet of former Securities and Exchange Commission chairmen rallied around the Sarbanes-Oxley Act, saying the benefits of the law outweigh the costs.

Speaking at an event sponsored by the Council on Foreign Relations, former SEC Chairman William Donaldson said he expects the costs of complying with the law to decline this year as accounting firms and boards grow more accustomed to the law.

“The returns on Sox are good,” he said, adding that the initial implementation of the law was “flawed.”

Former SEC chairmen defend Sarbanes-Oxley

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