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BIO Praises Reps. Sinema and Hollingsworth for Introducing the Fostering Innovation Act

Mar 22, 2017 - Business Wire

Today, the Biotechnology Innovation Organization (BIO) applauds Reps. Kyrsten Sinema (D-AZ) and Trey Hollingsworth (R-IN) for introducing the Fostering Innovation Act. The legislation would reduce compliance costs for growing businesses that benefitted from the JOBS Act.

The JOBS Act provides emerging growth companies (EGCs) with a five-year exemption from Section 404(b) of Sarbanes-Oxley (SOX), which requires a costly external attestation of a company's internal financial controls. The Fo...