Regulatory

By Julie Bort and Beth Schultz, Network World
December 22, 2006 12:03 AM ET


> Regulatory
Christopher Cox
TITLE	Chairman
COMPANY	Securities and Exchange Commission



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Cox wasn’t at the SEC when it enacted the Sarbanes-Oxley Act (SOX) and, in essence, spawned the intensive next-generation security and compliance programs within enterprises, but he’s now its powerful guardian. And guarding it, he is. In May, for example, he took SEC watchers by surprise with his controversial decision that small businesses would not be exempt from SOX rules. His attitude comes through loud and clear in these remarks delivered at a SOX roundtable in which executives from large companies told the SEC the initiative’s costs outweigh its benefits: “The Sarbanes-Oxley Act . . . has the potential to improve the accuracy and reliability of financial reporting, but only if it’s implemented properly.”