Sarbanes-Oxley Forum

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The Sarbanes-Oxley statute will have a significant impact on the Federal regulatory machine. The objective of this fourm is to provide a common meeting place to discuss relevant issues.

One issue that we believe needs to be addressed is the financing plan proposed by the SEC to fund the personnel associated with implementing the Act.

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SEC Implements Internal Control Provisions of Sarbanes-Oxley Act; Adopts Investment Company R&D Safe Harbor
FOR IMMEDIATE RELEASE
2003-66

Washington, D.C., May 27, 2003 — The Securities and Exchange Commission today voted to adopt rules concerning management's report on internal control over financial reporting and certification of disclosures in Exchange Act periodic reports. The Commission also voted to adopt new Rule 3a-8 under the Investment Company Act to provide a nonexclusive safe harbor from the definition of investment company for certain research and development companies.

Management's report on internal control over financial reporting and certification of disclosure in Exchange Act periodic reports
The Commission voted to adopt rule and form amendments to implement requirements of Section 404 of the Sarbanes-Oxley Act of 2002.


http://www.sec.gov/news/press/2003-66.htm