MCPACMineral County Performing Arts Council (Superior, MT)
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The practice of 'naked shorting' is of growing concern among the membership of the Leadership Council and MCPAC and we welcome Richard Altomare to head our efforts," said Frank Speight, Chairman of the Leadership Council and MCPAC.
The Leadership Council and MCPAC, along with other business groups will continue to work together to advocate further clarification of SOX to reduce the disproportionate costs of compliance in a broader shift towards a watering down of SOX rules," he said.
MCPAC was formed in April 2005 as the first advocacy group representing the interests of the nation's microcap publicly-traded companies to securities regulators and policy makers in Washington.
Speight stated that the following issues will be debated and discussed during the MCPAC Conference in Washington, D.
Speight said that the Leadership Council and MCPAC have met with White House staff, Members of Congress and the SEC about the government's regulatory "meat cleaver" approach regarding SEC Rule 504 and Sarbanes-Oxley.
Speight pointed out that MCPAC and the Leadership Council intend to fight for fairer treatment of both Pink Sheet and OTC Bulletin Board public companies when the 109th U.
The Panel has taken a big step toward simplifying the current system to make it more efficient and less burdensome for microcap and small public companies," said Frank Speight, Chairman of MCPAC and the Leadership Council, based in West Palm Beach, Fla.
Speight explained the members of MCPAC and the Leadership Council are urging the SEC to review and reform SEC rules that burden small businesses and hinder their access to the capital markets in the following ways:
We have engaged Arnold & Porter to develop and implement tailor-made, company-wide policies and programs to ensure compliance with campaign finance, lobbying, government ethics, and procurement rules at the federal, state, and local levels," explained Joseph Emas, a Miami-based securities attorney who serves as Secretary of MCPAC.
The Leadership Council and MCPAC are joining forces in their leadership roles on issues impacting small emerging growth companies," said Speight.
Cox is well-known for waging an effort to repeal the estate tax and other important reforms and MCPAC is hopeful that he'll recognize the urgent need for reforming other corporate governance issues that are crucial for small emerging growth companies.