Jan
12
I have written many times that the big problem with Sarbanes-Oxley is that was rushed through without any cost-benefit analysis. The result is a mess and a one-solution fits all approach that the Securities and Exchange Commission has tried addressing. It does however raise the question of whether the SEC's fix is a band-aid solution.
Long-time SOX critic Professor Stephen Bainbridge has offered this analysis of the act titled Legislate in Haste, Repent at Leisure.
Some of the criticisms, like the costs, have been well-canvassed. But his other points, that it undermines state laws and reduces flexibility, suggest that the SEC is not out of the woods yet.
Sarbanes-Oxley will be in the firing line for some time.
no comment untill now