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AeA Responds to SEC Action on Sarbanes-Oxley Washington, D.C. - 12/17/2004 - The following is a statement from John Palafoutas, Senior Vice President of Domestic Policy for AeA, the nation’s largest high-tech trade association, in response to Security and Exchange Commission’s decision to examine the impact of Sarbanes-Oxley on smaller companies:"This is the kind of leadership we need from the Securities and Exchange Commission (SEC). We are pleased the SEC is examining the impact that Sarbanes-Oxley Section 404 is having on smaller companies. Establishing an advisory committee is an appropriate and necessary action to examine the disproportionate burden Sarbanes-Oxley has placed on these companies. "Over the past weeks, AeA has conducted meetings through our 17 councils around the United States on this very issue. Our small and medium sized member companies have come to the conclusion that serious reform is necessary on Section 404. AeA has formed a national committee that will make recommendations to the SEC and Congress in early 2005 asking for changes to this particular section." John Palafoutas - ## - About AeA This page was last updated on 12/21/04. |
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