From MSNBC.com. This article relates to when/if non-accelerated filers may be required to comply with Sarbanes-Oxley, section 404(b), or the external audit attestation portion of Sarbanes-Oxley Compliance since the Wall Street Reform Act contains an amendment that, if passed, would grant a permanent reprieve to non-accelerated filers (those public companies with a market cap of less than $75MM). Great article:
"Impact of Wall Street reform up in the air
Overhaul of financial rules may have unintended consequences
By John W. Schoen
It’s 1,400 pages long (about 200 pages longer than the Bible), has taken months to compile, contains a slew of amendments already — and raises more questions than it answers.
The Senate’s multipronged overhaul of financial regulations that lawmakers are debating now leaves some of the more contentious issues for regulators to sort out if and when the bill becomes law. But is the SEC, whose track record has been shaky at best as a Wall Street watchdog, up to the task?"