The biotech sector and small banks are the most vocal in their calls for exemptions from Section 404 of Sarbanes-Oxley, reports CFO.com.

The demands for exemptions are also coming from newspaper editorials, like this one from the Washington Times.

Sarbanes-Oxley was rushed through without proper cost-benefit analysis. No surprises then it's a problem for companies close to the grassroots, like small banks, and firms requiring constant innovation, like the biotechs.

Sarbanes-Oxley can leave us with companies more risk-averse, something I raised in a blog earlier this year when I asked Is Sarbanes-Oxley choking innovation.

Indeed, apart from the accountants, the other winners from Sarbanes-Oxley seem to be the companies that sell computer systems to help businesses comply with the law, but apart from that, it's a mess, says Barrons

All this coincides with the Securities and Exchange Commission reviewing Sarbanes-Oxley and asking investors and companies for input. It's worth noting however that so far, the SEC has not shown any sympathy for making exemptions.

That said, we were always going have to this problem because of the way Sarbanes-Oxley was designed for big companies and part of the one-size-fits-all debate.

One assumes the SEC will again rule out exemptions.

But calls from some sectors for special treatment won't go away. And we are still left with the problem of roadblocks stopping innovation and entrepreneurship.