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Drumbeat to Ease SOX Grows

Drumbeat to Ease SOX Grows

by Toby Lucich on November 26, 2006

VCs and politicians want to loosen Sarbanes-Oxley rules to make U.S. exchanges more competitive.

The effort to repeal or alter Sarbanes-Oxley guidelines for publicly traded companies has been growing steadily in recent months, and multiple forces are at work that—if successful—may finally wreak changes in the 2002 law enacted in the wake of the Enron scandal.

Now that Congress has gone to the Democrats, a number of high-profile Dems have hinted they would favor a change to the law—not the least of which is Speaker-elect Rep. Nancy Pelosi, whose San Francisco constituency includes many in the venture capital community.

When asked what Ms. Pelosi’s perspective was on the SOX issue, Drew Hammill, Ms. Pelosi’s spokesman, said she was aware of the issue, but would defer to the U.S. Securities & Exchange Commission and the Public Company Accounting Oversight Board, which are both reviewing the rules.

Drumbeat to Ease SOX Grows

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