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The legislation takes its name from its two chief sponsors, Senator Paul Sarbanes, a Democrat from Maryland, and Representative Michael Oxley, a Republican from Ohio. Sarbanes is the chairman of the Senate Committee on Banking, Housing and Urban Affairs, which shapes legislation concerning the SEC. Oxley is the chairman of the new Committee on Financial Services in the U.S. House of Representatives.
Many of the Sarbanes-Oxley measures resembled existing NYSE and NASD rules. But some put new focus on restoring the so-called 'Chinese Wall' that separates analysts and professionals in other departments of the investment banks that employ them.
Sarbanes-Oxley Act: Summary
Sarbanes-Oxley Act