NYT Op: Room for Debate – with commentary by four contributors. Attorney Michael W. Peregrine states: “… the law has been spectacularly successful. Sarbanes-Oxley has forever changed the landscape of corporate governance. It has increased the accountability expectations we have of directors and officers, and their legal and accounting advisers as well.Sarbanes-Oxley seized the center of corporate direction from the corner office and returned it to the boardroom, where it belonged. Moreover, the law encouraged the identification of “best practices” to guide boardroom conduct. It has helped to shape the focus of state courts and regulators on the proper application of other fiduciary duty laws. It has raised the public consciousness of corporate governance.”
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