According to Open Congress.org, only 33% of visitors to the site support the H.R.4173 - Wall Street Reform and Consumer Protection Act of 2009 which includes the permanent reprieve of Section 404(b) for non-accelerated filers. Again, non-accelerated filers have a market cap of less than $75M and have been granted a reprieve on Section 404(b) since SOX was adopted. In November, 2009, the SEC announced that non-accelerated filers will have to comply with Section 404(b) by June 15, 2010 and H.R. 4173 was put through as an effort to permanently repeal the need for non-accelerated filers to have to comply. Open Congress.org has some nice visual displays detailing the progress of the bill.
More 404(b) Permanent Reprieve News
Posted by
Teresa Bockwoldt on January 12, 2010