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Do We Really Have to Do This?
Some Observations on Dealing with the Sarbanes-Oxley Act
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June 5, 2004
Previously published by Rothgerber Johnson & Lyons on April 2, 2003
About 10 years ago, when Attorney General John Ashcroft was governor of Missouri and president of the National Governors Association, he was challenged by then-chairman of the Securities and Exchange Commission, Richard Breeden, with the fact that each year, states imposed millions of dollars in fees on mutual funds, although most didn't do much in the way of regulating them. Without skipping a beat, Governor Ashcroft responded by saying, "Why, Mr. Chairman, I do believe that in this country, honest people pay for prisons."
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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