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Paulson Leads Drive to Ease Regulations of Sarbanes-Oxley Law

Paulson Leads Drive to Ease Regulations of Sarbanes-Oxley Law

by Rick Turoczy on October 9, 2006

Wall Street and corporate America have found a potent champion in Washington to back their demands for reduced corporate regulation: Treasury Secretary Henry Paulson.

Paulson, just three months on the job, has already offered a thinly veiled criticism of the 2002 Sarbanes-Oxley corporate- governance law, endorsed a group aiming to curb investor lawsuits and make corporate prosecutions harder, and picked a former colleague from his days as chief executive officer of Goldman Sachs Group Inc. to oversee domestic finance.

Paulson Leads Drive to Ease Regulations of Sarbanes-Oxley Law

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M.D. Fatwa October 9, 2006 at 12:19 pm

Paulson’s ability to do much about SOX is very limited. (See here). However, it seems that Paulson’s focus goes beyond just SOX to include all U.S. financial regulation, and in that regard he may move the OCC from under Treasury to the Federal Reserve. If that happens, however, Treasury’s ability to influence U.S. financial regulation will decrease to even less than its current low state.

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