By: Cydney Posner

The NYT is reporting today that Richard Shelby, successor to Paul Sarbanes as head of the Senate Banking Committee, said he intended to hold hearings this year to examine how well SOX has worked and whether there was a need for "legislative or regulatory fixes in some provisions." While praising SOX generally as a good piece of legislation that has "restored integrity to corporate America" and led to a "return of investor trust," Shelby also said he was aware of criticism that it had been costly, particularly for small businesses and that it may have gone too far, a view shared by many Congressional Republicans, as well as some at the SEC. 

Click here for article in NY Times.

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