Bank Survey on costs of complying with 404

A key lawmaker on Wednesday, March 9, expressed concern over the Securities and Exchange Commission's decision earlier this week to give small businesses and non-U.S. companies an additional year to comply with an important provision of the anti-fraud Sarbanes-Oxley Act.

"Unless we move forward we will have different companies operating with different standards," Sen. Paul S. Sarbanes, D-Md., ranking member of the Senate Commerce Committee, told SEC Chairman William Donaldson at a hearing on the securities industry.

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