Scott Says Sarbox Reform Doesn't Do Enough

Lora Bentley

Harvard Law School's Professor Hal Scott is set to testify before the House Committee on Small Business today, according to Like representatives from America's Community Bankers and the biotechnical industry, he says the changes made to Sarbanes-Oxley implementation last month will help ease the burden on small companies, but they won't do enough.


Scott, who heads up the bipartisan Committee on Capital Markets Regulation, says the cost of regulation in the U.S., along with the threat of class action lawsuits, are largely responsible for companies moving away from U.S. markets to foreign ones.

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