Location: The Heritage Foundation's Lehrman Auditorium
An act of Congress moved the world's financial center from New
York to London. In the wake of the corporate accounting scandals at
Enron, WorldCom, Global Crossing and other companies, Congress
passed the Sarbanes-Oxley Act (SOX) designed to shield investors
from corrupt and predatory businesses. SOX mandated wide-sweeping
accounting changes for all public companies doing business in the
U.S. The law included some needed reforms, but went too far. Since
becoming law, most new stock offerings are done through London
instead of New York. Small businesses are especially hard hit by
section 404. As a result, Congressman Tom Feeney has introduced
bipartisan legislation, H.R. 5404, to reduce the burdens of section
404 and restore the competitiveness of American businesses. Join us
as we discuss the effects of section 404, and the Sarbanes-Oxley
Act of 2002 overall, on small businesses and what changes can be
made to restore America's leadership in the world's capital
markets.
More About the Speakers
The Honorable Tom Feeney (R-FL)
United States House of Representatives
With Comments by:
Alex Pollock
Resident Fellow,
American Enterprise Institute
David John
Senior Research Fellow,
Thomas A. Roe Institute for
Economic Policy Studies,
The Heritage Foundation
Hosted By
Michael Franc
Vice President, Government Studies
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