April 30, 2003
In a bizarre development, on
In a bizarre development, on April 11th, Senator Biden included an extensive “legislative history” of Sarbanes-Oxley in the Congressional Record. His submission includes views that are inconsistent with some current practices, such as the the prevailing view that Section 906 does not cover Forms 8-K and 6-K. We have posted this “legislative history” at http://www.thecorporatecounsel.net/member/Sarbanes/LegislativeHistory.htm.
Yesterday, Sens. Barbara Boxer (D-Calif.) and John Ensign (R-Nev.) introduced a bill in the Senate that would delay enforcement of an upcoming FASB proposal that would require companies to treat stock options as expenses. The bill would direct the SEC to enhance financial disclosures of stock options – and then study the issue for 3 years before enforcing any new rules. A similar bill was introduced in the House last month.
For TheCorporateCounsel.net subscribers, today is our “Regulation G Unplugged” webcast – see more at http://www.greatgovernance.com/programs.html#current.