Boosting Investors Trust - NYSE’S corporate governance rules and Venezuelan directors’ liabilities system (2006-02-01)
In response to serious lack of diligence, ethics and controls that led significant public companies as Enron, Global Crossing and MCI WorldCom to bankruptcy, the U.S. Congress passed the Sarbanes-Oxley Act.
This act contains many new standards and regulations on corporate governance matters, and as Commissioner Paul S. Atkins mentioned, it also represents what formerly would have been an unimaginable incursion of the U.S. federal government into the corporate governance matters.
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