Sarbanes-Oxley Act, SOX, Sarbox, or Public Company Accounting Reform and Investor Protection Act
The Sarbanes-Oxley Act became law i 2002 and introduced many legislative changes to corporation financial practices and corporate governance regulations. It also created some deadlines where companies must reach financial reporting and certification goals for any end-of-year financial statements filed.
The Sarbanes-Oxley Act is named after its main creators who are Senator Paul Sarbanes and Representative Michael Oxley. Passage of the Act followed many high-profile scandals like the one involving Enron corporation. With Sarbanes-Oxley, firms can stay up to date withthe proposed and final rules and regulations that are issued by the United States Securities and Exchange Commission to implment the Act. If you feel there has been stock fraud of some kind you should contact a securities fraud lawyer.
