Answered: What was established as a result of the…

What was established as a result of the passage of the Dodd Frank law by Congress to provide incentives to assist in the enforcement of federal securities law violations?

Business/Professional Ethics Directors/Executives/Acct

8th Edition

ISBN:9781337485913

Author:BROOKS

Publisher:BROOKS

Chapter5: Corporate Ethical Governance & Accountabililty

Section: Chapter Questions

Problem 23.4EC

See similar textbooks

Related questions

Q: What are the bases of accounting? Describe how government accounting systems are structured. How do…

A: Government accounting is a technique used for collecting, processing and evaluating the economic…

Q: Discuss the issues encountered in Tyco scandal how the Sarbanes Oxley Act addressed those issues.

A: Corporate scandals is a huge problem (e.g., Enron and Worldcom) in the United States from 2000 to…

Q: Contrast the auditor’s liability under the Securities Act of 1933 withthat under the Securities…

Q: Why were federal securities laws originally enacted by Congress?

A: Managerial accounting: Managerial accounting is more focused towards analyzing information and…

Q: Which of the following criteria ultimately determines whether the CRA determines that a taxpayer's…

A: Speculative nature means transactions settled by way other then actual delivery or transfer of…

Q: What is the difference between Regulation S–K and Regulation S–X? choose the correct.a. Regulation…

A: Securities Exchange Commission (SEC): This is the government agency governs the working of financial…

Q: IF A CORPORATION COMMITS A CRIMINAL OFFENSE, HOW CAN IT BE PUNISHED?

A: Corporation: A corporation is a form of business entity that is incorporated through the state…

Q: Explain the roles of various US government bones and how bond returns are measured. Explain in…

A: These are also known as treasury bonds which pay the fixed interest payment every 6 months until…

Q: Explain the origin and expansive role of the Securities and Exchange Commission.

A: Answer: Origin and expansive role of Securities and Exchange Commission: The Securities and Exchange…

Q: What is the difference between Regulation S–K and Regulation S–X?a. Regulation S–K establishes…

A: Definition: Securities Exchange Commission (SEC): This is the government agency governs the…

Q: Securities that are registered at the U.S. Federal level are not subject to U.S. state governments…

A: There are various laws governing securities

Q: Explain the disclosure requirements of the 1933 Act, including which securities and transactions are…

A: The securities act of 1933 is an act that has been passed after the market crash that took place in…

Q: What is the role of the Securities and Exchange Commission? Why are securities laws frequently…

A: Securities and Exchange Commission is a federal independent agency of United States which is…

Q: Which of the following Institutions are compensated via commission after the transaction has been…

Q: The SEC attempts to protect investors who purchase newly issued securities by requiring issuers to…

A: Answer: The United State Securities and Exchange Commission (SEC) is created to educate people on…

Q: The following is not one of the principal types of securities underwritten by investment banks:…

A: Securities underwriting, which attempts to determine hazard and the acceptable value of specific…

Q: The following information is an extract of the Continuous Disclosure Policy of the ANZ Bank Ltd:…

A: Efficient Market Hypothesis (EMH) is a theory that says that all the information regarding a stock…

Q: Which of the following is the federal, independent agency that provides oversight of public…

Q: Problem 3: Public Companies must file required forms through EDGAR. What are the most important…

A: Public corporations, some corporate insiders, and broker-dealers are required by the Securities and…

Q: Discuss the methods by which the SEC can influence the development of generally accepted accounting…

A: Definition: Securities Exchange Commission (SEC): This is the government agency that governs the…

Q: How does the SEC affect the development of generally accepted accounting principles in the United…

A: SEC affects development of generally accepted accounting principles in the United States by…

Q: How did the Sarbanes–Oxley Act impact corporations’ financial reports?

A: The sarbanes Oxley act had a significant impact on the corporate governance of the us corporations,…

Q: What are the defenses that someone can take to charges of violations under the 1933 securities act?

A: Defenses are explained below

Q: “The debt of government-owned corporation is guaranteed by the full faith and credit of the U.S.…

A: Full faith and credit means the unconditional commitment and guarantee provided by government with…

Q: Choose the correct. Which of the following is not exempt from registration with the SEC under the…

A: Securities and Exchange Commission (SEC): The board which set rules for the companies for…

Q: Which of the following best describes the objectives of internal controls? O Ensuring the compliance…

A: Internal control is to ensure that organizations objectives are achieved and management is using its…

Q: Under what circumstances is a company exempt from filing a registration statement with the SEC prior…

A: Definition: Securities Exchange Commission (SEC): This is the government agency that governs the…

Q: Which of the following best describes the extent to which the SEC requires or permits the use of…

A: Option d. The statement U.S. public companies are neither required nor allowed to use IFRS best…

Q: Discuss the objectives of the Securities Act of 1933 and the Securities Exchange Act of 1934. How…

A: Securities and Exchange Commission (SEC): SEC is a governmental agency that has the legal power, for…

Q: Which law or regulation requires that public companies must maintain strong internal control…

A: Under Section 404 of the Sarbanes-Oxley Act, all public companies would be required to establish…

Q: Indicate whether the statement is true or false. The Securities Exchange Act established the…

A: EXPLANATION:- The Security and Exchange Commission (SEC) is an autonomous major federal organisation…

Question

What was established as a result of the passage of the Dodd Frank law by Congress to provide incentives to assist in the enforcement of federal securities law violations?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Which of the following is the federal, independent agency that provides oversight of public companies to maintain fair representation of company financial activities for investors to make informed decisions? A. IRS (Internal Revenue Service) B. SEC (Securities and Exchange Commission) C. FASB (Financial Accounting Standards Board) D. FDIC (Federal Deposit Insurance Corporation)
Why were federal securities laws originally enacted by Congress?
What are the defenses that someone can take to charges of violations under the 1933 securities act?
What was the primary reason for the establishment of the 1933 Securities Act and the 1934 Securities Exchange Act? What power does the Securities and Exchange Commission (SEC) have?
Considering the recent criminal conduct of Bernard Madoff in the world of finance, indicating whether the Securities and Exchange Commission (SEC) is an effective regulatory agency.
Consider section 24 of the Securities Act of 1933 and section 32 of the Securities Exchange Act of 1934 (see Module C). Based on the case information, do you believe that Madoff’s auditor, Friehling, should be facing criminal charges? Why or why not?
Which law or regulation requires that public companies must maintain strong internal control systems?a. Dodd-Frank Actb. Sarbanes-Oxley Actc. Securities and Exchange Act of 1933d. Treadway Commission
Should corporate lawyers who become aware that someone at the client corporation may have violated securities laws report their suspicions only to persons within the corporation, or should they report their concerns to the SEC?
Which of the following is not one of the five primary responsibilities of the Securities and Exchange Commission (the SEC)? A. inform and protect investors B. regulate securities law C. facilitate capital formation D. assure that dividends are paid by corporations
Which of the following is true about the Sarbanes-Oxley Act? A. It was passed to ensure that internal controls are properly documented and tested by public companies. B. It applies to both public and smaller companies. C. It requires all companies to report their internal control policies to the US Securities and Exchange Commission. D. It does not require additional costs or resources to have adequate controls.