« The Difference Between Revlon and the Business Judgment Rule |
Main
| Family Movie Catch-Up: The Last Mimzy, Meet the Robinsons and TMNT »
April 13, 2007
SOX and Insider Trading
Posted by Gordon Smith
Larry Ribstein explains why SOX would not have stopped Joe Nacchio: "SOX was not designed to stop fraud at the top. We have learned time and again that a determined CEO can thwart internal controls."
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8345157d569e200d834f6a1be53ef
Links to weblogs that reference SOX and Insider Trading:
1. Posted by Mike Guttentag on April 13, 2007 @ 22:23 | Permalink
I would certainly defer to Lisa F. on these matters, but it seems to me that some of the SOX provisions were explicitly directed at reducing the CEO’s ability to carry out a fraud. For example, shifting authority over hiring of the auditor from the CEO to an independent Board committee was an effort to limit the influence of the “imperial CEO.”
Bloggers
Papers
Posts
Recent Comments
Popular Threads
Search The Glom
The Glom on Twitter
Follow The Glom on
Archives by Topic
Archives by Date
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |||
| 5 | 6 | 7 | 8 | 9 | 10 | 11 |
| 12 | 13 | 14 | 15 | 16 | 17 | 18 |
| 19 | 20 | 21 | 22 | 23 | 24 | 25 |
| 26 | 27 | 28 | 29 |
Syndicate The Glom
Enter your email address
Miscellaneous Links
