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    10.20.09 Professor Roberta Karmel Signs Brief Against Public Company Accounting Oversight Board
    Roberta Karmel

    Nine separate amicus briefs have been submitted asking the U.S. Supreme Court to determine the Sarbanes-Oxley Public Company Accounting Oversight Board (PCAOB) unconstitutional. The briefs were signed by many prominent "friends of the court," including three former U.S. Attorneys General, several law professors and economists, and Professor Roberta Karmel, formerly Commissioner of the Securities Exchange Commission. They argue that PCAOB is unconstitutional as it bypasses Presidential appointment, Senate confirmation, and the Executive Branch's power to remove. Professor Karmel noted that "the PCAOB is not subject to constitutionally sufficient control by the President" and that its "structure violates the doctrine of separation of powers and the Appointments Clause."

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