House Bill Would Create SEC Ombuds

A spending bill approved by the House Appropriations Committee on Monday would establish an ombudsman position at the Security and Exchanges Commission to help small businesses "address the unique challenges small public companies face in implementing the Sarbanes-Oxley Act." The bill — which contains funding for more than 20 agencies — heads to the House floor for a vote next week. (Federal Times; House Report 109-520; Status of Appropriations Legislation for Fiscal Year 2008.)