Transparency and Accountability (for Some?)
CPA Journal, The › Vol. 76 Nbr. 8, August 2006
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Summary
Just when the investing public thought it was safe to go back into the stock market, the regulatory waters have gotten murkier. On May 5, 2006, President George W. Bush signed a memo delegating presidential authority under section 13(b)(3)(A) of the Securities Exchange Act of 1934, as amended, to the Director of National Intelligence, John Negroponte. SEC Chairman Christopher Cox has made it clear that he opposes government interference in business when it comes to setting executive compensation. However, Cox has proposed a requirement that companies disclose the pay of all highly compensated employees, including nonexecutives. Hopefully, President Bush's recent action does not cause a detour in the quest for greater transparency and accountability.
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Transparency and Accountability (for Some?)
Just when the investing public thought it was safe to go back into the stock market, the regulatory waters have gotten murkier.
In 2002, the Sarbanes-Oxley Act (SOX) sought to restore public confidence in the market by instituting additional requirements for ...See the full content of this document
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