SEC Delays Implementation of Section 404

The SEC has postponed the implementation of Section 404 of the Sarbanes-Oxley Act from June 15 to November 15 for accelerated filers – U.S. companies with a market cap over $75 million that have filed annual reports with the SEC – and from April 15 2005 to July 15 2005 for all others.

This is the second time the SEC has delayed implementation. The prior compliance date of June 15 was itself revised from last September.