The SEC is moving closer and closer to giving the smallest companies a break on complying with certain provisions of the Sarbanes-Oxley Act.
On Friday, the commission's advisory committee on smaller public companies published for public comment an exposure draft of its final report and proposed recommendations to the commission. The committee will consider the comments, which are due April 3, before it issues its final report, scheduled for completion by April 23. The final rules will almost certainly resemble the SEC's earlier proposals.
Meanwhile, Bob Greifeld — president and CEO of Nasdaq, the home of most listed small companies — weighed in today on the editorial page of The Wall Street Journal (subscription required). "The burden of compliance is onerous, the cost is significant, and it falls disproportionately on smaller companies that are least able to pay," he writes.
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