Canadian version of Sarbanes-Oxley the toughest issue he’s had to face, OSC chairman says

David Brown says the internal control reporting rule proposed by provincial securities regulators is the toughest issue he’s had to grapple with during his tenure as OSC chairman.

Speaking at McMaster University in Hamilton, Ont. today Brown noted that the internal control reporting requirement of the U.S. Sarbanes-Oxley Act, known as SOX 404, has arguably been its most controversial. “Canadian securities regulators are proposing a similar rule here, and I would have to say it has been the most difficult issue I’ve seen in my time as chair,” he said.

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