Michael R. Littenberg
Partner, Corporate Department
Schulte, Roth & Zabel LLP
New York City
If nothing else, Sarbanes-Oxley is consistent. Last year'squery drew 67% negative votes concerning its worth measured againsttime and expense. This year, with changes to Section 404 rearingtheir head, SarbOx did no better. Some 73% of respondents to ourFeedback Poll said it's more of a hassle than ever, while only 27%said it's become a non-issue. Commentator Littenberg, who's beenpracticing securities law for 18 years, provides hisspin:
"The reason you're getting a thumbs-down from an overwhelmingpercentage of your respondents is because in the five yearsSarbanes-Oxley's been out it's certainly increased theregulatory-compliance burden. That's resulted in increased costsfor most companies, primarily on the accounting and financial side,but to a lesser extent the legal side as well.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
