Supporters and opponents alike of giving smaller companies more time to comply with Section 404 of the Sarbanes-Oxley Act are closely watching an attempt by lawmakers to sink the Securities and Exchange Commission’s plans to have those issuers begin phased-in compliance at the end of this year.
Observers are no doubt anxiously waiting to see what, if anything, the Senate—and the SEC—will do following the recent passage by the House of an amendment that would give non-accelerated filers another year to comply with Section 404.
As Compliance Week previously reported, the House voted June 28 by a marging of 267-154 in favor ...