Business Services Industry
Sarbanes-Oxley:The US Experience and the UK Reaction.
Mondaq Business Briefing, August, 2004
What lessons can we learn from the US experience of this legislation to date, and to what extent should directors and their insurers fear or welcome recent UK and European attempts to address these issues?
We consider the US experience in this article, and the UK and European response in a companion article in the next edition of this review.
SARBANES-OXLEY:THE US EXPERIENCE
The Sarbanes-Oxley Act 2002 ('Sarbox') was intended to usher in a new regime of corporate accountability and disclosure in the wake of a series of very public scandals that severely dented investor confidence in corporate America. A year and a half on, with a large proportion (but not all) of Sarbox now in force,1 the first cases involving Sarbox provisions have now been...
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