An SEC advisory panel is expected to suggest changes to allow smaller public companies-- those with market capitalizations under $787 million--to duck out of having to meet some of the law's stringent reporting requirements.
A Securities and Exchange Commission advisory panel is expected to move forward Tuesday in urging the agency to drop a key part of the Sarbanes-Oxley corporate reform law to ease the reporting burden for small companies.
With a meeting of the SEC's Advisory Committee on Smaller Public Companies set for Tuesday, the panel suggested in draft recommendations that the law's stiff internal controls accounting requirements -- known as Section 404 -- should be eliminated for companies that meet certain size requirements.
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