The SEC's advisory committee on smaller public companies is finalising proposals that would exempt 80% of public companies from compliance with parts of the Sarbanes-Oxley Act.

A roundtable event will discuss publishing a draft of its final report for scaling back regulation.

The elements that could be scaled back include the hiring of outside auditors to assess the quality of internal controls over financial reporting.

The panel will meet at the SEC's headquarters in Washington on Feb 21.

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