Should Sarbanes-Oxley be repealed?

Question

London has attracted more foreign investment, so could more stringent accounting practices be hurting Wall Street? to what extent has Sarbanes-Oxley even helped accounting oversight?

Answer 1

It is worthless as tyhe securities laws always had antifraud provisions. That said, those antifraud provisions did not have much teeth as they were not enforced.

Now that we have SOX, i do not think we should get rid of it for small companies (even though ti is expensive). Why? Because large firms are studied by loads of analysts and third parties, it is smaller companies that are overlooked and need to be compelled to do things properly.

I do think the SOX whistleblowing provisions are particularly important.