SB 112-37: Sarbanes-Oxley Reform Act (Passed)

[Saint Milei]

II. Section 404 of Sarbanes-Oxley is hereby repealed

Amendment

[Saint Milei]

This amendment imposes unnecessary costs on businesses which impedes growth. The cost of foreign businesses doing business here went up which only contributed to higher prices for consumers. In some ways, you can argue Sarbanes-Oxley is inherently protectionist for businesses in Atlasia and inflationary for consumers. Shouldn't we be focusing on businesses that gave us problems and not pricing out foreign companies that could hurt consumers? By 05, businesses were already disclosing millions in costs due to this section specifically. Lastly, does anyone seriously believe a big company will actually disclose what it does to the public after a government regulation is imposed?

[Saint Milei]

Aye

[Saint Milei]

I can't see myself supporting this bill. It does nothing

[Saint Milei]

Nay