Ex-Senator warns against relaxing Sarbanes-Oxley

One of the driving forces behind the US Sarbanes-Oxley Act, enshrined in law a decade ago, says it has succeeded in reforming corporate responsibility but warns against letting standards slip

Former US Senator Paul Sarbanes, one of the driving forces behind the Sarbanes-Oxley Act that was enshrined in law after the collapse of Enron a decade ago, this week warned that any weakening of the legislation could result in a “scandal waiting to happen”.

The SEC Historical Society yesterday hosted a conversation between Sarbanes and former US representative Michael Oxley on the tenth anniversary of the signing of the Sarbanes-Oxley Act by President George Bush.

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