Sarbanes-Oxley News & Developments
White House: A Year of Work on SOXThe Corporate Fraud Task Force of the President Compiles Strong Record.
> > During its first year, the Corporate Fraud Task Force has compiled a strong record in combating corporate fraud and punishing corporate wrongdoers. Coordination by federal authorities has been significantly enhanced by aggressively investigating and prosecuting fraud,
The Task Force has assisted the investigation in virtually every corporate fraud case brought by federal prosecutors over the last year.
Civil and regulatory departments and agencies on the Task Force are stepping-up coordination to protect investors and consumers from corporate fraud. For example, during fiscal year 2002---the year in which the Task Force was created --- the SEC filed almost 50% more financial fraud and reporting cases than in the previous fiscal year.
Source: White House Press Release
Published:2003-07-29
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