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Legislation Introduced to Improve SOX Requirements for Small Businesses

Rep. Ben Quayle from Arizona’s third district recently introduced  H.R. 2941, the Startup Expansion and Investment Act, which will allow shareholders of public companies with market valuations below $1 billion to opt out of regulations within section 404 for the first 10 years after going public. The costs for complying with the requirements of this section of Sarbanes-Oxley can exceed $1 million for new companies and can cost them up to $20 million in loss of valuation.

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Posted by: Mark Marich
on September 26, 2011
Category:  Capitol Hill 
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