Constitutional Conundrum

It would surely exceed the ironic if the Sarbanes-Oxley Act of 2002, passed to help prevent market scandal and turmoil, were to meet its demise even as the current financial crisis threatens economic upheaval on an unprecedented scale.

But that's not outside the realm of possibility following August's split decision of the D.C. Circuit in Free Enterprise Fund v. Public Company Accounting Oversight Board (PCAOB), a case of first impression challenging the Board's constitutionality.

Roadmap to Appeal

But Kavanaugh disagreed.


Julius Melnitzer

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