It is obvious that one of the distinctions we sought to make in the underlying bill that is before us is that when a company becomes public, you then have an investor interest that has to be protected. Otherwise, manipulation destroys investor confidence and affects the confidence in our capital markets. That is the issue we are confronting now and the impact it is having on the economy. That was the universe we tried to deal with in this legislation. We were very careful that the legislation does not apply to most businesses in America and doesn't apply to most accountants in America, since most of them don't audit public companies.
John Sarbanes: “It is obvious that one of the distinctions we sought to make in the underlying bill that is before us is that when a…”
Editor's note · Context
Discussing investor protection and the implications of legislation on public companies.
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