On April 5, 2012, the President signed into law the Jumpstart Our Business Startups (JOBS) Act, which passed by a large bipartisan majority in the Congress. The Act is designed to facilitate the equity funding of new companies. Recent research has documented that from 1980 through the 2008-09 recession new companies have been main drivers of job creation in the United States. 

Testimony to the House Government Reform Subcommittee on Regulatory Affairs onthe need for action to address the unintended, but very real, excessive burdens and bureaucracy created by the Securities and Exchange Commission's implementation of the Sarbanes-Oxley Act of 2002.

Given the newness, apparent cost, and controversies surrounding Section 404, this regulation would be a worthwhile project for data collection in order to undertake regulatory review.

This event will discuss the role Sarbanes-Oxley played in the financial crisis.

Do the benefits of the Sarbanes-Oxley Act outweigh its drawbacks?

In a June conference at AEI, Kenneth Lehn and his colleagues at the University of Pittsburgh presented a paper suggesting that risk-taking by U.S. corporations has declined since the adoption of the Sarbanes-Oxley Act. The Lehn paper compared U.S. companies with similar companies in the United Kingdom and found a...

Does the Sarbanes-Oxley Act violate the Constitution by vesting members of PCAOB with too much power?

The reform of Sarbanes-Oxley must march on, cutting the bureaucracy and reducing the monopoly profits of the accounting firms that the act has so unfortunately engendered.