Friday, December 17, 2004

Report: Snow wants balanced Sarbanes-Oxley enforcement

Treasury Secretary John Snow calls Sarbanes-Oxley Act 'essential' but wants to avoid criminalizing mistakes. Snow said "appropriate, measured balance" is needed when enforcing the Sarbanes-Oxley Act, the most significant revision of U.S. securities law since the 1930s, the Wall Street Journal reported Friday.

In an interview with the Journal, Snow said, "We don't want to criminalize mistakes. Getting the right balance there... is a very serious public policy issue, and failure to get the balance right has extraordinarily negative long-term economic consequences."

He added that Sarbanes-Oxley is "absolutely essential" and requires no "major modifications," according to the newspaper.

Report: Snow wants balanced Sarbanes-Oxley enforcement

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