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Sarbanes-Oxley deserves scrutiny

Sarbanes-Oxley deserves scrutiny

by Rick Turoczy on October 30, 2006

The Sarbanes-Oxley Act and other reforms must undergo a rigorous cost-benefit analysis to ensure they aren’t harming competitiveness, leaders of an independent group studying the U.S. capital markets said in an opinion piece in Monday’s Wall Street Journal.

R. Glenn Hubbard, dean of the Columbia Business School and a former chairman of President Bush’s Council of Economic Advisers, and John Thornton, chairman of the Brookings Institution and a former president of Goldman Sachs Group Inc., are part of a newly formed committee considering changes to Sarbanes-Oxley and other reforms.

“Rolling back the Sarbanes-Oxley law wholesale is not the answer,” they wrote in their opinion piece. “But subjecting regulation to rigorous cost-benefit analysis is surely right.”

Sarbanes-Oxley deserves scrutiny

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