Sarbanes-Oxley Oversight Board Facing Constitutional Challenge

A group of advocates for free enterprise and limited government that includes former federal independent counsel Kenneth Starr is challenging the constitutionality of the Sarbanes Oxley Act and its provisions that govern the accounting of public companies.

The Free Enterprise Fund of Washington, D.C. filed a constitutional legal challenge to the Public Company Accounting Oversight Board (PCAOB) created by Congress as part of the Sarbanes-Oxley Act, which was enacted in 2002 following a number of corporate scandals,

The SOX Act has been criticized by businesses, including insurers, for imposing new costs on publicly traded U.S. businesses.

Sarbanes-Oxley Oversight Board Facing Constitutional Challenge
Source: Insurance Journal