2007: Washing the SOX Out of Corporate Governance?

by Robert N. Charette

The year 2007 portends to be a very contentious one for US corporate governance, which may have implications around the world. Both Congressman Paul Sarbanes, a Democrat from Maryland, and Congressman Michael Oxley, Republican from Ohio, are retiring from the US Congress this year. With these two stalwarts for strong corporate governance gone and New York Attorney General Eliot Spitzer -- who aggressively pursued corporate malfeasants lawsuits across several industries -- now Governor of New York, the high-water mark of tough corporate governance may have been reached. Even the leaders of the now Democratically controlled Congress -- like Barney Franks of Massachusetts, who is slated to be the chair of the House Financial Services Committee -- are saying that some of the rules regarding corporate governance may have gone too far.

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2007: Washing the SOX Out of Corporate Governance?Thu Nov 09 08:12:42 CDT 2006