SEC Testimony Before House Financial Services Committee

Testimony Concerning A Review of Investor Protection and Market Oversight with the Five Commissioners of the Securities and Exchange Commission Before House Committee on Financial Services Full Committee Hearing, June 26, 2007, is posted at the SEC website.  The written testimony focuses on all the "hot issues" currently before the SEC, including globalization, enforcement efforts, corporate penalties, fraud against seniors and military, improved disclosure in mutual funds and 401(k) plans, access to corporate information through the internet and interactive data, proxy access, and (of course) SOX and section 404.

CFO.com reports that Chair Cox said during the hearing that the SEC will issue later this summer a concept release exploring the possibility of moving to a principles-based accounting system.