Alerts and Updates
SEC Advisory Committee Seeks Comment from Smaller Public Companies
August 8, 2005
The SEC Advisory Committee on Smaller Public Companies is soliciting input from small public companies to a series of questions in its efforts to improve its current regulatory system. Duane Morris encourages its small public company clients and other interested parties to respond to the SEC Committee's survey, which seeks ways to improve the current regulatory system for smaller companies and to examine the impact of the Sarbanes-Oxley Act of 2002.
The questions cover topics such as the overall effects of the Sarbanes-Oxley Act on smaller companies; the internal control audit required by Section 404 of SOX; accounting and auditing matters; the corporate governance rules under SOX; and SEC disclosure rules.
At the Committee's request, the SEC is posting the Committee's questions on the SEC Web site at http://www.sec.gov/cgi-bin/acspc-questions and also publishing a release containing the questions. Interested parties are encouraged to respond by Aug. 31, 2005, either on the SEC's Web site or by sending responses in the manner outlined in the Web site posting and the release. The Committee will consider this information in making its recommendations.
The SEC established the Advisory Committee in December 2004 to examine the impact of federal securities laws on smaller public companies, with a view to assuring that the costs and burdens of regulation are commensurate with the benefits to investors and the public. The Committee will develop recommendations for the SEC and issue a final report by April 2006.
For further information, please contact one of the attorneys in our Securities Law Practice Group.
Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.
