Sunday, March 4, 2007

SOX Used for What?

The Sarbanes-Oxley Act is without doubt a controversial piece of legislation.  Some have questioned whether the costs of compliance are too high for some businesses.  But a new dimension has been added to this controversy - can/should SOX be used against an attorney for allegations of "destroying evidence in a child pornography investigation." Yes, the legislation passed to heighten disclosure and accountability in corporate accounting is being used in a pornography case. (see Houston Chronicle AP here; see also Martin Cassidy of the Greenwich Time here).  This will be an interesting case to follow. 

(esp)(w/ a hat tip to Jack King)

Fraud, Securities | Permalink

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