SEC To Discuss Sarbanes-Oxley In December

by Glen Shapiro, LawAndTax-News.com, New York

13 October 2006

The US Securities and Exchange Commission announced on Wednesday that it will consider, at an open meeting of the Commission to be held on December 13, recommendations regarding Section 404 of the Sarbanes-Oxley Act of 2002, Foreign Private Issuer Deregistration, Internet Availability of Proxy Materials, and Securities Exchange Act Rule 14a-8.

"The Commission’s proposed guidance to management is an important next step in making Section 404 of the Sarbanes-Oxley Act cost-effective and risk-based," explained SEC Chairman, Christopher Cox.

He continued:

"This initiative, as well as foreign private issuer deregistration, will be addressed before year-end."

"At the same meeting, the Commission will consider a final rule for Internet proxy delivery, as well as proposals for revisions to our rule concerning shareholder proxy initiatives. This will permit discussion of how the Internet can advance the dissemination and exchange of information among shareholders and companies, and thereby improve the entire proxy process."

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