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Interview: Democrat Says Sarbanes-Oxley Already Being Thinned

Interview: Democrat Says Sarbanes-Oxley Already Being Thinned

by Toby Lucich on November 8, 2006

The most controversial section of 2002′s post-Enron Sarbanes-Oxley law—under fire in the run-up to Tuesday’s elections—is already being thinned down by regulators under orders from the U.S. Congress, a senior Democrat told Reuters Wednesday.

Amid complaints by Republicans and Democrats alike about the burdens Sarbanes-Oxley places on business, Rep. Barney Frank told Reuters the regulators are working on it.

“We’re dealing with that. I think Sarbanes-Oxley, as administered, has become too burdensome,” Frank said. “It’s possible to reduce the burden without undercutting the principle. We’ve asked them to do that and I think they will.”

Interview: Democrat Says Sarbanes-Oxley Already Being Thinned

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