Section 404 of the Sarbanes-Oxley Act has been in the legislative whirlwind this week.
Two amendments to delay or even rescind Section 404 for many companies came before the House Financial Services Committee on Wednesday, a surprise move that left investor advocates fulminating to anyone who would listen. One amendment to postpone Section 404(b) until 2011 for non-accelerated filers did pass on a voice vote, and will come before the full committee for a roll-call vote on Nov. 4.
