| Publisher | Fried, Frank, Harris, Shriver & Jacobson | ||
|---|---|---|---|
| Format | 138.7KB PDF, requires Acrobat Rdr 5 | Date added | 02 Aug 2002 |
| Topics | Sarbanes-Oxley, Law and Government | ||
| Downloads | 172 | ||
The Sarbanes-Oxley Act of 2002 (the "Act"), which was approved by both houses of Congress and has been signed into law by President Bush, contains a number of provisions directly affecting officers and directors of corporations. These provisions include: the imposition of penalties on CEOs and CFOs in certain cases involving material noncompliance with financial reporting requirements; restrictions on executive officers and directors' trading during pension fund blackout periods; prohibitions on loans to executive officers and directors of public companies; modifications to the reporting requirements for officers, directors and 10% beneficial owners; and increased penalties for violations of the Employee Retirement Income Security Act of 1974 ("ERISA").
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