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Read. Follow. Verify.Congressional Hearing on the Costs of Public Company Compliance
Record date · January 1, 2018
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What This Bill Does
The House Subcommittee on Capital Markets, Securities, and Investment held a hearing on July 18, 2017, to examine the financial and regulatory burdens placed on public companies by the and federal corporate governance standards. The session featured testimony from industry leaders, legal experts, and policy advocates regarding the impact of these regulations on market competitiveness.
This hearing explores whether current federal regulations for public companies create excessive costs that discourage businesses from going public, which directly impacts investment opportunities and the regulatory environment for U.S. capital markets.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Publicly traded companies
These entities are subject to the federal corporate governance and reporting requirements discussed in the hearing.
Investors
Changes to corporate governance regulations may alter the information available to investors and the costs associated with public market participation.
Key Facts
- The hearing took place on July 18, 2017, in the Rayburn House Office Building.
- The primary focus was the impact of the Sarbanes-Oxley Act on the costs of operating as a public company.
- Witnesses included representatives from the NYSE, the U.S. Chamber of Commerce, academia, and the private sector.
- The hearing record includes prepared statements from five expert witnesses and additional materials from the Depository Trust & Clearing Corporation and Institutional Shareholder Services Inc.
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News Coverage
Follow the record
Votes, people, money & the original sourceFull breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Focus on Regulatory Burden
The hearing highlights a legislative interest in 2017 in re-evaluating post-Enron era regulations to potentially reduce compliance costs for public companies.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance60How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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