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Sarbanes-Oxley News & Developments
House Approves Measure To Speed Staffing of SECLegislation approved unanimously to speed hiring of accountants and other key personnel at the SEC.
> > With a wave of corporate-accounting scandals the new bill waives civil-service hiring procedures for SEC accountants, economists and examiners without sacrificing civil-service protections for new hires. A comprimise was struck with the National Tresasury Employees Union which represents SEC employees to allow new hiring methods.
SEC Chairman William Donaldson welcomed the House vote. This bill will help put key personnel in place to increase investor protections and restore investor confidence.
Source: The Wall Street Journal article dated June 18, 2003
Published:2003-06-19
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