Responding to criticism that regulators had overreacted to years of major corporate scandals, the Securities and Exchange Commission on Wednesday issued a flurry of deregulatory orders and proposals intended to lower costs to public companies. It said the moves would not reduce investor protection.
In a daylong proceeding, the commission proposed a loose interpretation for smaller companies of an auditing provision of the Sarbanes-Oxley Act of 2002 that has come under attack from many companies.
It also proposed a rule to make it easier for foreign companies to withdraw their securities from American markets. A number of companies have asked to withdraw, and officials said the current rules discouraged companies from listing on United States exchanges if they did not have the option of withdrawing later.
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