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Securities Regulations

The Enron and WorldCom fiascos, along with others referred to in the discussion above, gave rise to the Sarbanes-Oxley Act of 2002, a federal statute that placed greater controls on how publicly traded corporations must conduct business. Under this statute, officer and directors who commit fraud or other crimes face greater penalties than they did in the past. The statute also gave greater power to the Securities and Exchange Commission in investigating and prosecuting acts of wrongdoing by corporate officers and directors.

Inside Securities Regulations