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Sarbanes Oxley Act

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BUSINESS
November 30, 2004 | From Associated Press
A federal judge in Birmingham, Ala. has rejected a challenge by Richard Scrushy, the fired chief executive of HealthSouth Corp., to the new corporate fraud law adopted after a series of major accounting scandals. In the first court test of the Sarbanes-Oxley Act -- which requires top executives of public corporations to vouch for the financial reports of their companies -- U.S. District Judge Karon O.
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OPINION
January 14, 2008 | Al Meyerhoff, Al Meyerhoff is of counsel in a law firm specializing in securities fraud cases.
For about the last 30 years, our nation has been traveling the deregulation highway, a road with no rules or direction. We have let enterprise be free, business go unfettered, the good times roll. And roll they have, but to where? One stopping point: the current mortgage crisis. Recently, however, there has been a slight regulatory bump in the road.
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OPINION
January 14, 2008 | Al Meyerhoff, Al Meyerhoff is of counsel in a law firm specializing in securities fraud cases.
For about the last 30 years, our nation has been traveling the deregulation highway, a road with no rules or direction. We have let enterprise be free, business go unfettered, the good times roll. And roll they have, but to where? One stopping point: the current mortgage crisis. Recently, however, there has been a slight regulatory bump in the road.
BUSINESS
December 20, 2007 | Cyndia Zwahlen, Special to The Times
Will small public companies -- many already dragging their feet on complying with important parts of the Sarbanes-Oxley corporate accounting reform legislation -- get their wish for a permanent exemption?
BUSINESS
August 10, 2006 | From Bloomberg News
The Securities and Exchange Commission, responding to complaints that the Sarbanes-Oxley Act puts too big a burden on small companies, said the deadline for them to comply should be put off until the end of next year. The SEC on Wednesday proposed delaying by six months the July 15, 2007, date for small companies to start reporting on whether their financial controls promote accurate numbers and prevent fraud.
BUSINESS
September 25, 2004 | From Bloomberg News
A federal appeals court said Friday that it had agreed to review whether former Gemstar-TV Guide International Inc. Chief Executive Henry Yuen should collect $29.5 million in severance that was frozen after regulators accused him of accounting fraud. The U.S. 9th Circuit Court of Appeals in San Francisco granted a Securities and Exchange Commission request that a panel of 11 judges review the case.
BUSINESS
October 31, 2002 | From Reuters
Securities regulators, moving to implement regulations ordered by Congress after a wave of business scandals, Wednesday proposed rules to crack down on pro forma profit reports and off-balance-sheet dealings. The Securities and Exchange Commission, voting 5 to 0 on all measures, also sent out for public comment a proposed rule to bar executives from selling company stock when employees are unable to do so because of pension plan "blackout periods."
BUSINESS
November 21, 2006 | From the Associated Press
The Bush administration will review the regulations governing America's financial markets to make sure that they don't harm the country's ability to compete in the global economy, Treasury Secretary Henry M. Paulson Jr. said Monday. In his first major speech addressing market regulation, Paulson said the administration would convene a conference on capital markets and economic competitiveness early next year.
BUSINESS
May 24, 2007 | From Times Wire Reports
The Securities and Exchange Commission approved guidelines Wednesday to help companies comply with what critics say is a burdensome and costly provision of the Sarbanes-Oxley corporate reform law. The agency, by a 5-0 vote, encouraged companies to take a more risk-based approach to complying with Section 404 of the legislation.
BUSINESS
December 20, 2007 | Cyndia Zwahlen, Special to The Times
Will small public companies -- many already dragging their feet on complying with important parts of the Sarbanes-Oxley corporate accounting reform legislation -- get their wish for a permanent exemption?
BUSINESS
July 31, 2007 | From Times Staff and Wire Reports
The authors of the Sarbanes-Oxley corporate reform law defended it Monday from criticism that it was hurting the country's capital markets. Former Sen. Paul S. Sarbanes (D-Md.), who wrote the law with former Rep. Michael G. Oxley (R-Ohio), said at an event in Washington to mark its fifth anniversary that it should not be amended. "Our goal was to restore investor confidence" after a wave of corporate scandals that began with the 2001 collapse of Enron Corp., Sarbanes said. "That's what we did."
BUSINESS
July 31, 2007 | From Times Staff and Wire Reports
Eyeonics Inc., a medical device company based in Aliso Viejo, filed a plan with regulators to sell as much as $86.3 million in stock in an initial public offering. Eyeonics makes lenses that can be implanted in the eye after the natural lens develops cataracts. The company says its crystalens model is the first lens approved by U.S. regulators that can correct presbyopia, which makes it hard for people in their 40s and older to see close-up objects. In the first half of 2006, Eyeonics had a $3.
BUSINESS
May 24, 2007 | From Times Wire Reports
The Securities and Exchange Commission approved guidelines Wednesday to help companies comply with what critics say is a burdensome and costly provision of the Sarbanes-Oxley corporate reform law. The agency, by a 5-0 vote, encouraged companies to take a more risk-based approach to complying with Section 404 of the legislation.
BUSINESS
April 5, 2007 | From the Associated Press
The Securities and Exchange Commission approved a framework Wednesday that would make it easier for companies and their auditors to comply with a landmark anti-fraud law. The vote by the five SEC commissioners was unanimous to support building more leeway into regulations, especially rules for auditors being written by the independent board that oversees the accounting industry.
BUSINESS
December 5, 2006 | From Bloomberg News
The Securities and Exchange Commission will propose giving the smallest companies an additional one-year delay before having to comply completely with the audit provisions of the Sarbanes-Oxley law, Commissioner Roel Campos said Monday. The extension for the deadlines, which have been pushed back four times from the original date of April 2005, are the latest indication that the SEC is trying to respond to small companies' complaints that the audit requirements are too onerous and too expensive.
BUSINESS
November 21, 2006 | From the Associated Press
The Bush administration will review the regulations governing America's financial markets to make sure that they don't harm the country's ability to compete in the global economy, Treasury Secretary Henry M. Paulson Jr. said Monday. In his first major speech addressing market regulation, Paulson said the administration would convene a conference on capital markets and economic competitiveness early next year.
BUSINESS
December 5, 2006 | From Bloomberg News
The Securities and Exchange Commission will propose giving the smallest companies an additional one-year delay before having to comply completely with the audit provisions of the Sarbanes-Oxley law, Commissioner Roel Campos said Monday. The extension for the deadlines, which have been pushed back four times from the original date of April 2005, are the latest indication that the SEC is trying to respond to small companies' complaints that the audit requirements are too onerous and too expensive.
BUSINESS
May 18, 2006 | From the Associated Press
The Securities and Exchange Commission said Wednesday that it had decided not to exempt smaller public companies from a key requirement of a 2002 anti-fraud law, resisting entreaties from business interests that have been complaining about the costs of compliance. In a statement, the SEC said it would take a series of actions meant to improve the way the law works, "although ultimately all public companies will be required to comply."
BUSINESS
August 10, 2006 | From Bloomberg News
The Securities and Exchange Commission, responding to complaints that the Sarbanes-Oxley Act puts too big a burden on small companies, said the deadline for them to comply should be put off until the end of next year. The SEC on Wednesday proposed delaying by six months the July 15, 2007, date for small companies to start reporting on whether their financial controls promote accurate numbers and prevent fraud.
BUSINESS
July 12, 2006 | From Bloomberg News
The Securities and Exchange Commission said its guidelines for complying with the Sarbanes-Oxley law would include advice for managers on how to spot problems with company procedures in preparing financial statements and what kinds of documentation to provide. The SEC's announcement Tuesday kicks off a rule-writing process expected to last for at least six months.
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