SEC Wants Another Delay on Section 404 — One-Year Extension for Small Companies

SEC Chairman Christopher Cox testified briefly today before the House Committee on Small Business and revealed plans to give non-accelerated filers yet another extension to comply with SOX 404.  The SEC intends to conduct a study of Section 404 costs and benefits in 2008.  The SEC is going to give small businesses another extension pending completion of that analysis. If approved, this latest action will be the third extension for small companies.  This one comes on the eve of the December 15 deadline for filings.  One has to wonder how much money small businesses have spent in anticipation of having to comply next week?  

For more see the Text of Commissioner Cox’s Testimony.



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