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After Congress: Oxley's Next Steps

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Last week, as the U.S. Chamber of Commerce was hosting its first Capital Markets Summit and Securities and Exchange Commission Chairman Christopher Cox was reiterating his position that no change to Sarbanes-Oxley is necessary, one of the controversial corporate reform law's co-authors was settling into a new role with the Nasdaq Stock Market.

 

Former Rep. Michael Oxley, who wrote the Sarbanes-Oxley Act with former Sen. Paul Sarbanes in response to the Enron and WorldCom scandals, has been appointed a non-executive vice president of the young tech exchange. The news comes not long after we learned that the former Republican congressman from Ohio is also serving in an of counsel capacity with the Baker Hostetler law firm. Among other things, his practice will focus on corporate counseling and capital markets.

 

Both Sarbanes and Oxley retired at the close of the last session of Congress -- just in time for the debate over how their namesake should be revised and/or amended to come to a head.

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