Committee Recommends Easing Regulatory Requirements on Small Businesses

Last week I mentioned that there was going to be a SEC Advisory Committee on Smaller Public Companies meeting to discuss Sarbanes Oxley regulations on small businesses. According to CFO.com:

The advisory committee voted 18 to 1 that most companies with a market capitalization below $700 million be excused from assessing their internal controls over financial reporting and from having their auditors certify those controls. The committee also recommended that most companies with a market cap below $100 million be exempted from Sarbanes-Oxley entirely; the current threshold is $75 million.

You can read the rest of this article on the committee meeting regarding small business exemptions from Sarbanes Oxley regulations for more details. The article also covers an unrelated change making it easier for foreign issuers to more easily delist their stock and terminate their reporting obligations.