RollBack of Section 404 ? 772
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With Bill Donaldson resigning as chairman of the SEC and Chris Cox most likely to be replacing him… What are the chances that Section 404 will be scaled back or even fully rolled back?
:?:
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In the short term - Zero
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How could they roll it back? It would be too politically embarassing, as it would essentially be the same as admitting that they made a mistake. Plus, the law was enacted by Congress, not the SEC, so the SEC would have to lobby Congress to repeal the law.
The focus will likely be on complying ‘smarter’.
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The focus will likely be on complying ‘smarter’.
Exactly what I also believe.