Mike Oxley, Co-Author of Sarbanes-Oxley Act, Dies at 71 – NMP Skip to main content

Mike Oxley, Co-Author of Sarbanes-Oxley Act, Dies at 71

Phil Hall
Jan 04, 2016
Mike Oxley, an Ohio Republican who chaired the House Financial Services Committee (HFSC) for six years and co-authored the landmark Sarbanes-Oxley Act of 2002, died on New Year’s Day at his home in McLean, Va., from lung cancer at the age of 71

Mike Oxley, an Ohio Republican who chaired the House Financial Services Committee (HFSC) for six years and co-authored the landmark Sarbanes-Oxley Act of 2002, died on New Year’s Day at his home in McLean, Va., from lung cancer at the age of 71.

A former FBI agent and member of the Ohio legislature, Oxley came to Congress in 1981 via a special election following the death of Rep. Tennyson Guyer. He was named chairman of the Financial Services Committee in 2001 and served in that role until he left Congress in 2007.

In 2002, Oxley joined Paul S. Sarbanes, a Democratic senator from Maryland, in responding to a number of high profile corporate scandals by creating the Sarbanes-Oxley Act, which created a new federal regimen for corporate accounting requirements. Although passed by a majority-Republican Congress and signed into law by President George W. Bush, the Sarbanes-Oxley Act was criticized by many business leaders and conservatives as an example of federal regulatory overreach. However, the law survived a 2010 challenge before the U.S. Supreme Court.

After leaving Congress, Oxley worked in the financial services industry as a non-executive vice chairman for NASDAQ and a lobbyist for the Financial Industry Regulatory Authority. 

Published
Jan 04, 2016
CFPB Alters Threshold For Exempting Loans From Special Appraisal Requirements

The 2022 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $27,200 to $28,500. 

Regulation and Compliance
Dec 02, 2021
Regulatory Review, Reformatted

The progress made to date with NMLS modernization

Regulation and Compliance
Dec 01, 2021
November Surprise: Fed May Accelerate Tapering

Chairman Powell tells Congress of concerns about inflation, COVID-19 variant’s effect on recovery.

Regulation and Compliance
Dec 01, 2021
FHFA's 2022 Conforming Loan Limit Maxes Out At Nearly $1M

Baseline limit for Fannie, Freddie increases to $647,200, but for 'high-cost areas' loan ceiling set at $970,800 for single-family homes.

Regulation and Compliance
Dec 01, 2021
Regulators Are Back In The Saddle

There’s not only a new sherriff in town, it’s a whole gang of them.

Regulation and Compliance
Nov 29, 2021
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021