SEC: Sarbanes-Oxley rollback 'unjustified'

The top U.S. markets regulator told Congress on Thursday it is "unjustified" to call for a broad weakening of 2002's Sarbanes-Oxley business reforms due to concerns about the costs of one part of them that is aimed at strengthening companies' internal financial controls.

At the same time, U.S. Securities and Exchange Commission Chairman William Donaldson said regulators "must be sensitive to the need to recalibrate and adjust our rules and guidance to avoid unnecessary costs or unintended consequences."

See full Article and Testimony before the House Committee on Financial Services.