SB 108-02: Sarbanes-Oxley Reform Act (Rejected)

[WD]

SENATE BILL

to relax burdensome regulations on smaller companies

Be it enacted,

SARBANES-OXLEY REFORM ACT

SECTION I: NAME
a. This act shall be called the Sarbanes-Oxley Reform Act.

SECTION II: EXEMPTION FOR SMALLER COMPANIES
a. The regulation requiring all publicly traded companies with an aggregate worldwide market value at $75 million to conduct a PCAOB approved audit each year shall be amended to exempt all such companies with an aggregate worldwide market value of $700 Million or less. Nothing in this section shall affect any criminal penalties for any crime committed by the publicly traded company. 17 CFR 240.12b-2 shall be amended accordingly.

SECTION III: TIME
a. This Act shall take effect January 1, 2023.

Sponsor: West Midlander

The gentleman from North Carolina is recognized

[S019]

I remember debating this several years ago, why are we doing this again? Anyways, this should be tabled once the required time period has elapsed.

[Continential]

SENATE BILL

to relax burdensome regulations on smaller companies

Be it enacted,

SARBANES-OXLEY REFORM ACT

SECTION I: NAME
a. This act shall be called the Sarbanes-Oxley Reform Act.

SECTION II: EXEMPTION FOR SMALLER COMPANIES
a. The regulation requiring all publicly traded companies with an aggregate worldwide market value at $75 million to conduct a PCAOB approved audit each year shall be amended to exempt all such companies with an aggregate worldwide market value of $700 300 Million or less. Nothing in this section shall affect any criminal penalties for any crime committed by the publicly traded company. 17 CFR 240.12b-2 shall be amended accordingly.

SECTION III: TIME
a. This Act shall take effect January 1, 2023.[/b][/b]

This is a sensible act but I would prefer if the maximum amount was $300 million before it would get audited.

[Mr. Reactionary]

I remember debating this several years ago, why are we doing this again? Anyways, this should be tabled once the required time period has elapsed.

Do you remember that you were the sponsor?

This bill basically helps smaller and mid size businesses by exempting them from expensive financial regs. Big businesses still get to take it up the A.

While im not the immediate sponsor, the honorable Ishan's proposed amendment still expands the exemption from the status quo so i wouldnt object if it helps the bill pass.

[WD]

24 hours to object to Ishan’s amendment

[West_Midlander]

Thank you, Mr. PPT.

As my honorable colleague said this bill will help small businesses avoid unnecessary regulation.

[S019]

I remember debating this several years ago, why are we doing this again? Anyways, this should be tabled once the required time period has elapsed.

Do you remember that you were the sponsor?

This bill basically helps smaller and mid size businesses by exempting them from expensive financial regs. Big businesses still get to take it up the A.

While im not the immediate sponsor, the honorable Ishan's proposed amendment still expands the exemption from the status quo so i wouldnt object if it helps the bill pass.

It was silly then and it's silly now, not that you ever learn anything, so this is a waste of my time.

[Mr. Reactionary]

I remember debating this several years ago, why are we doing this again? Anyways, this should be tabled once the required time period has elapsed.

Do you remember that you were the sponsor?

This bill basically helps smaller and mid size businesses by exempting them from expensive financial regs. Big businesses still get to take it up the A.

While im not the immediate sponsor, the honorable Ishan's proposed amendment still expands the exemption from the status quo so i wouldnt object if it helps the bill pass.

It was silly then and it's silly now, not that you ever learn anything, so this is a waste of my time.

More of a waste than opening elections?

[S019]

I remember debating this several years ago, why are we doing this again? Anyways, this should be tabled once the required time period has elapsed.

Do you remember that you were the sponsor?

This bill basically helps smaller and mid size businesses by exempting them from expensive financial regs. Big businesses still get to take it up the A.

While im not the immediate sponsor, the honorable Ishan's proposed amendment still expands the exemption from the status quo so i wouldnt object if it helps the bill pass.

It was silly then and it's silly now, not that you ever learn anything, so this is a waste of my time.

More of a waste than opening elections?

The fact that you try to distract from your vile worldview by bringing up irrelevant non-sequiturs is ridiculous. You can never actually defend your despicable beliefs on their merits.

[Deep Dixieland Senator, Muad'dib (OSR MSR)]

I remember debating this several years ago, why are we doing this again? Anyways, this should be tabled once the required time period has elapsed.

Do you remember that you were the sponsor?

This bill basically helps smaller and mid size businesses by exempting them from expensive financial regs. Big businesses still get to take it up the A.

While im not the immediate sponsor, the honorable Ishan's proposed amendment still expands the exemption from the status quo so i wouldnt object if it helps the bill pass.

It was silly then and it's silly now, not that you ever learn anything, so this is a waste of my time.

More of a waste than opening elections?

The fact that you try to distract from your vile worldview by bringing up irrelevant non-sequiturs is ridiculous. You can never actually defend your despicable beliefs on their merits.

This is rich coming form the Senator who seems to think that criticism is just 'bait' to be hand waived away.

[Southern Senator North Carolina Yankee]

The main problem with the S019 proposal of last time was that if memory serves me, it was a full repeal, and had no discernible interest in the Senate and thus no basis from which to discuss any kind of amendments and such.

[WD]

Ishan’s amendment is adopted

[WD]

Opening a final vote in 24 hours

[WD]

A final vote is now open. Please vote Aye, Nay, or Abstain.

[Mr. Reactionary]

Aye

[Saint Milei]

aye

[Left Wing]

Nay

[West_Midlander]

Aye

[Continential]

Aye

[Joseph Cao]

Aye.

[Never Made it to Graceland]

Nay

[GM Team Member and Senator WB]

Nay

[If my soul was made of stone]

NAY

[Left Wing]

Nay

[Pedocon Theory is not a theory]

Nay