Sample Term Paper
This term paper discusses the SEC rules. On July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002. The Act offers the most comprehensive reform of corporate governance and public reporting in decades.
On July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002. The Act offers the most comprehensive reform of corporate governance and public reporting in decades. The Act also requires the Securities and Exchange Commission (SEC) and Department of Labor (DOL) to give out rules to execute the Act. This rule is one of the changes brought about by the Sarbanes-Oxley Act of 2002..
This particular rule requires a registrant to provide an account of its off-balance sheet provisions in a separately marked section of the “Management’s Discussion and Analysis” (“MD&A”) section of a registrant’s disclosure documents. The change also requires registrants –other than small business issuers– to provide a summary of certain known contractual requirements in a tabular format.
The SEC has always accepted the need to have detailed narrative explanations of the financial statements. This particular rule is of vital importance in increasing the precision of a company’s financial performance and supplying investors with the discovery necessary to assess a company and to make informed investment decisions.
While this rule chiefly effects issuers, broker-dealers concerned in securities offerings as underwriters on behalf of reporting firms are accountable for the truthfulness of the offering information disclosed and will have to fulfill this rule’s provisions and safe harbors.
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