• SEC Proposes New Disclosure Regarding Financial Experts, Internal Controls and Codes of Ethics
  • July 1, 2003 | Author: Howard E. Berkenblit
  • Law Firm: Sullivan & Worcester LLP - Boston Office
  • New Securities and Exchange Commission rules would mandate public disclosure regarding financial experts serving on audit committees, internal controls and procedures and codes of ethics. On October 22, 2002, the SEC proposed to implement Sections 404, 406, and 407 of the Sarbanes-Oxley Act of 2002. In some cases, the proposed rules go further than the specific requirements of the Sarbanes-Oxley Act. The proposals are subject to a 30-day public comment period, after which the SEC is expected to issue final rules, which may vary from the proposed versions.