Thanks for Jeremy Grant's interview of Congressman Tom Feeney on Sarbanes-Oxley reform ("Advocate of Sox reform points to capital markets leak", July 31).

Mr Feeney is exactly right to focus on fixing the mistakes made in the implementation of Sarbanes-Oxley by regulators and the public accounting firms.

Resident Fellow Alex J. Pollock

These mistakes have hurt the very investors the original act was trying to protect, by creating, as everyone knows, a morass of paperwork, bureaucracy, risk aversion and expense far in excess of any investor benefit. As implementation extends to smaller firms, the damage to investors will expand.

The bill introduced by Mr Feeney and the companion Senate bill introduced by Senator Jim DeMint, a Republican from South Carolina, would mandate a number of key corrections to these implementation mistakes.

If enacted, they will actually improve the reputation of the Sarbanes-Oxley Act and its place in US financial history.

Alex J. Pollock is a resident fellow at AEI.