WebbThe statement required under subsection (a) shall certify that the periodic report containing the financial statements fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act pf [1] 1934 (15 U.S.C. 78m or 78o(d)) and that information contained in the periodic report fairly presents, in all material respects, the financial … Webb26 apr. 2013 · The SEC staff issued interpretative guidance addressing Section 402 of the Sarbanes-Oxley Act of 2002 for the first time. Section 402 prohibits an…
PARAMETRIC SOUND CORPORATION UNDERWRITING …
Webb26 apr. 2024 · Section 402 of the Act makes it unlawful for any public company, directly or indirectly, to extend credit, maintain credit or arrange for the extension of credit in the form of a personal loan to or for the benefit of any director or executive officer. This prohibition on loans is broadly worded and may cover a variety of circumstances that are ... Webb8 maj 2024 · The Sarbanes-Oxley (SOX) Act of 2002 came in response to highly publicized corporate financial scandals earlier that decade. The act created strict new rules for accountants, auditors, and... rite aid pharmacy chat
SARBANES-OXLEY ACT OF 2002 AND ITS NEW RULES FOR …
Webb2. Public companies cannot make personal loans to directors or officers under Sarbanes-Oxley. Why was that problematic? Can you make an argument that such a practice should not be barred? Expert Answer 100% (1 rating) One of the alarming parts of the Act is its restriction on "arranging" for credits through outsiders. WebbProhibition on Personal Loans to Executive Officers and Directors – Section 402 Under the Act, it is illegal for an issuer to “extend or maintain credit, to arrange for the extension of credit, or to renew an extension of credit, in the form of a personal loan to or for any director or executive officer (or equivalent thereof)” of the issuer. Webb16 aug. 2002 · The Sarbanes-Oxley loan prohibition contains two categories of exempt loans and arrangements that will be available only for issuers that are financial … smith and jennings high point nc