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Sarbanes-Oxley: Bane or Boon?
Expenditures to implement the provisions of the Sarbanes-Oxley Act (“SOX”) are staggering. For instance, CFO magazine recently reported that 225 companies surveyed planned to spend an aggregate $6.2 billion on SOX compliance. It is no wonder, then, that questions are being raised as to the cost of this legislation relative to its benefits. This article examines the proposition that, given proper perspective and attention, SOX compliance can in fact lead to tangible benefits for equipment lessors.
The key objective of SOX is to protect investors by improving the accuracy and reliability of financial statements, primarily by emphasizing a company's system of internal controls. One of the mechanisms to achieve this objective is to put more responsibility, including noncompliance penalties, on the officers of publicly traded companies. A hoped for result of this additional protection is to restore and, with any luck, reinvigorate investor confidence in the financial markets after the Enron, Worldcom, et al., scandals.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.