Oxley Rollback Coming?
(REGULATORY CHANGEQUAKE) — The most controversial section of 2002’s post-Enron Sarbanes-Oxley law — under fire in the run-up to Tuesday’s elections — is already being thinned down by regulators under orders from the U.S. Congress. Amid complaints by Republicans and Democrats alike about the burdens Sarbanes-Oxley places on business, Rep. Barney Frank told Reuters the regulators are working on it. www.eweek.com Pressure To Convert To Income Trusts Forced Canadian Tax Change (ECONOMIC CHANGEQUAKE) — Mounting investor pressure on oil and gas companies (including energy giant EnCana Corp. (ECA)) to convert structures forced Ottawa’s tax clampdown on income trusts, according to the parliamentary secretary of finance. The comments come as a coalition of energy executives prepare to battle Ottawa’s tax plan, arguing that exceptions should be made for royalty trusts, which are often credited for working with marginal lands that have been sold off by larger companies. www.canada.com Electro
