November 9, 2011
SEC Enforcement Brought Record Number of Cases in Fiscal 2011
The Securities and Exchange Commission today announced that the agency filed a record 735 enforcement actions in the fiscal year that ended September 30. The release contains information about the types of cases it brought.
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Inside out corporate governance is when organizations like the SEC can be used as ally rather than enemy to corporate malfeasance and fraud by using the willful ignorance excuse, or innocent instrumentalist excuse.
Companies are organized as they are to monitor "EVERY" aspect of corporate dealings, to insure profits. Little or nothing is left to chance; hence, the need for employees, and the glow of corporate justification.
Why, then, would not all companies be held liable for the knowledge required for operations, whether legal or not, and why should companies be left unattended to go bankrupt when what they have really been practicing is fraud?
The case of moral relativism in business is not much different than the case in churches or governments where corporate control is the name of the game. Pulling the charter of companies where fraud occurs is expected by most rational governmental policies, and not something to be swept under the rug for convenience.
Posted by: Pat | Nov 10, 2011 8:46:53 AM