The high cost of compliance

The last thing Charles Conoley needs is to spend another $100,000 on regulatory compliance.

That would take a big bite out of the bottom line at his Horizon Bank of Bradenton, a 51/2-year-old company that turned an $841,000 profit in 2004.

But like other small publicly traded companies, Horizon is facing a hefty price tag to comply with the Sarbanes-Oxley Act of 2002.

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