I wanted to throw this out there...
I am a small business owner and know that small businesses are what make this country run. I get that. I also know that there are many ways to generate capital and going public is just one option so I don't feel badly for companies who are "subjected" to SOX standards - that is just a cost of doing business and nowadays, you can become compliant for under $10,000 so it is now affordable.
The Representatives who are pushing for the SOX amendment are public servants. Repealing the SOX requirements and using language such as "free[ing] small businesses from onerous regulations" seems like reckless talk to me. Again, since they are only pushing for a 404(b) repeal, are they suggesting companies lie about 404(a) and 302 since they consider the legislation to be "onerous?" Who are they serving by suggestion this amendment? Not the investing public that the legislation is trying to protect...
Teresa Bockwoldt MBA, MST
CEO & Co-Founder
655 Montgomery Street, 5th Floor, Suite 540 San Francisco, CA 94111
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