US committee to make Sarbox changes
Recommendations expected by November
A new committee which will recommend changes to corporate governance rules
brought in under the 2002 Sarbanes-Oxley Act, is due to be unveiled this week.
The changes will be recommended over concerns that Sarbox is hindering the
competitiveness of US capital markets, The Wall Street Journal
reported.
The group – The Committee on Capital Markets Regulation – will be chaired by
former White House economic adviser Glenn Hubbard and former Goldman Sachs
president, John Thornton, the paper said.
It will coordinate its efforts with new US Treasury secretary Henry Paulson
and plans to submit its recommendations by the end of November.