* Sarbanes – Oxley Act of 2002 ( SOX ).

In passing the 2002 Sarbanes – Oxley Act, the Senate Judiciary Committee found that whistleblower protections were dependent on the " patchwork and vagaries " of varying state statutes.

Similar employee protections enforced through OSHA are included in the Surface Transportation Assistance Act ( 1982 ) to protect truck drivers, the Pipeline Safety Improvement Act ( PSIA ) of 2002, the Wendell H. Ford Aviation Investment and Reform Act for the 21st Century (" AIR 21 "), and the Sarbanes – Oxley Act, enacted on July 30, 2002 ( for corporate fraud whistleblowers ).

In addition to the Securities Exchange Act of 1934 that created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes – Oxley Act of 2002 and other statutes.

They are: the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes – Oxley Act of 2002 and most recently the Credit Rating Agency Reform Act of 2006.

The combination of decreasing interest rates, loosening lending standards and regulatory changes for publicly traded companies ( specifically the Sarbanes – Oxley Act ) would set the stage for the largest boom private equity had seen.

United States Senate | Sen. Paul Sarbanes ( Democratic Party ( United States ) | D – Maryland | MD ) and United States House of Representatives | Rep. Michael G. Oxley ( Republican Party ( United States ) | R – Ohio's 4th congressional district | OH-4 ), the co-sponsors of the Sarbanes – Oxley Act.

The Sarbanes – Oxley Act of 2002 (), also known as the ' Public Company Accounting Reform and Investor Protection Act ' ( in the Senate ) and ' Corporate and Auditing Accountability and Responsibility Act ' ( in the House ) and more commonly called Sarbanes – Oxley, Sarbox or SOX, is a United States federal law that set new or enhanced standards for all U. S. public company boards, management and public accounting firms.

Harvey Pitt, the 26th chairman of the SEC, led the SEC in the adoption of dozens of rules to implement the Sarbanes – Oxley Act.

Sarbanes – Oxley contains 11 titles that describe specific mandates and requirements for financial reporting.

Before the signing ceremony of the Sarbanes – Oxley Act, President George W. Bush met with Senator Paul Sarbanes, U. S. Secretary of Labor | Secretary of Labor Elaine Chao and other dignitaries in the Blue Room ( White House ) | Blue Room at the White House on July 30, 2002

Sen. Sarbanes introduced Senate Bill 2673 to the full Senate that same day, and it passed 97 – 0 less than three weeks later on July 15, 2002.

" ( John T. Bostelman, The Sarbanes – Oxley Deskbook § 2 – 31.

The Committee approved the final conference bill on July 24, 2002, and gave it the name " the Sarbanes – Oxley Act of 2002.

It is named after sponsors U. S. Senator Paul Sarbanes ( D-MD ) and U. S. Representative Michael G. Oxley ( R-OH ).

Some have asserted that Sarbanes – Oxley legislation has helped displace business from New York to London, where the Financial Services Authority regulates the financial sector with a lighter touch.

London based Alternative Investment Market claims that its spectacular growth in listings almost entirely coincided with the Sarbanes Oxley legislation.

The Sarbanes – Oxley Act's effect on non-U. S. companies cross-listed in the U. S. is different on firms from developed and well regulated countries than on firms from less developed countries according to Kate Litvak.

The reason for the timing disparity was to address the House Committee on Small Business concern that the cost of complying with Section 404 of the Sarbanes – Oxley Act of 2002 was still unknown and could therefore be disproportionately high for smaller publicly held companies.

* Study Pursuant to Section 108 ( d ) of the Sarbanes – Oxley Act of 2002 on the Adoption by the United States Financial Reporting System of a Principles-Based Accounting System

The Sarbanes – Oxley Act of 2002, enacted in the aftermath of several major U. S. accounting scandals, requires at least one member of a public company's audit committee to be a financial expert.

The circular is a re-examination of the existing internal control requirements for federal agencies and was initiated in light of the new internal control requirements for publicly-traded companies contained in the Sarbanes – Oxley Act of 2002.

Due to the requirement of Section 404 of the Sarbanes Oxley Act of 2002 for management to also assess the effectiveness of their internal controls over financial reporting ( as also required of the external auditor ), internal auditors are utilized to make this assessment.

These punishments grew harsher after the Jeffery Skilling and Enron Scandal, when the Sarbanes – Oxley Act of 2002 was passed by the United States Congress and signed into law by President George W. Bush, defining new crimes and increasing the penalties for crimes such as mail and wire fraud.

In 2002 Sarbanes co-sponsored the Sarbanes – Oxley Act, which put his name in the headlines.

Before the signing ceremony of the Sarbanes-Oxley Act, President George W. Bush meets with Senator Sarbanes, Secretary of Labor Elaine Chao and other dignitaries in the Blue Room of the White House July 30, 2002.

In 2002, Sarbanes was the Senate sponsor of the Sarbanes-Oxley Act of 2002, which reformed federal securities laws in the wake of the 2002 accounting scandals.

Former Federal Reserve Chairman Alan Greenspan praised the Sarbanes – Oxley Act: " I am surprised that the Sarbanes – Oxley Act, so rapidly developed and enacted, has functioned as well as it has ... the act importantly reinforced the principle that shareholders own our corporations and that corporate managers should be working on behalf of shareholders to allocate business resources to their optimum use.

Sarbanes Oxley Act has been praised for nurturing an ethical culture as it forces top management to be transparent and employees to be responsible for their acts and also protects whistle blowers.

It has received support and endorsements from Senator Paul Sarbanes, Congressman Albert Wynn and actor / humanitarian Richard Gere.

Rep. Sarbanes ( D-MD ) introduced the Telework Improvements Act of 2009 in March 2009.

Rep. Sarbanes ( D-MD ) introduced the Telework Improvements Act of 2009 in March 2009.

According to a study by a researcher at the Wharton Business School, the number of American companies deregistering from public stock exchanges nearly tripled during the year after Sarbanes – Oxley became law, while the New York Stock Exchange had only 10 new foreign listings in all of 2004.

Senator Sarbanes congratulates US troops as they depart the new state-of-the-art United Service Organizations | USO International Gateway Lounge at Baltimore-Washington International Thurgood Marshall Airport | Thurgood Marshall BWI airport.

United States Senator Paul Sarbanes congratulates US troops as they depart the new state-of-the-art USO International Gateway Lounge at BWI airport.

SEC Chairman Christopher Cox stated in 2007: " Sarbanes – Oxley helped restore trust in U. S. markets by increasing accountability, speeding up reporting, and making audits more independent.

The reluctance of small businesses and foreign firms to register on American stock exchanges is easily understood when one considers the costs Sarbanes – Oxley imposes on businesses.

During the financial crisis of 2007 – 2010, critics blamed Sarbanes – Oxley for the low number of Initial Public Offerings ( IPOs ) on American stock exchanges during 2008.

In November 2008, Newt Gingrich and co-author David W. Kralik called on Congress to repeal Sarbanes – Oxley.

Paul Sarbanes was born on Maryland's Eastern Shore in the city of Salisbury to Greek parents, Matina ( née Tsigounis ) and Spyros P. Sarbanes, who had emmigrated from Laconia, Greece and owned a Salisbury restaurant.

Christine Sarbanes died of cancer on March 22, 2009.

While in the House, Sarbanes served on the Judiciary Committee, the Merchant Marine and Fisheries Committee, and the Select Committee on House Reorganization.

It was during his service in the House, in August 1974, that Sarbanes was selected by his Democratic colleagues on the House Watergate Committee to introduce the first Article of Impeachment, for obstruction of justice, against President Richard Nixon.