Michael Oxley, the former Republican congressman from Ohio who served as chairman of the House Financial Services Committee and co-authored the Sarbanes-Oxley Act of 2002 following the Enron scandal, died on New Year’s Day.
Bloomberg said the cause was lung cancer; he was 71.
Oxley, who was most recently with Baker Hostetler in Washington after serving in Congress from 1981 to 2007, registered nearly five years ago (in February 2011) as a lobbyist with FINRA to help convince Congress that FINRA should be the self-regulatory organization (SRO) for advisors.
Oxley’s lobbying on that issue never really took hold. FINRA’s chairman and CEO, Richard Ketchum, said last year that he would not continue pursuing such lobbying efforts, and plans to retire at the end of this year.
When ThinkAdvisor spoke with Oxley in 2011, he had not yet started lobbying Congress on the SRO issue, stating that “part of my role is educational,” and that his goal was “to not only educate the members [of Congress] but the public in general about what was mandated in the [Dodd-Frank] Act” regarding advisors’ registration and regulation.