The Sarbanes-Oxley Act of 2002 (SOX):

The legislation came into force in 2002 and introduced major changes to the regulation of financial practice and corporate governance. Named after Senator Paul Sarbanes and Representative Michael Oxley, who were its main architects, it also set a number of deadlines for compliance. This Act was primarily in response to :

charges of excessive compensation to top corporate executives.

The legislation came into force in 2002 and introduced major changes to the regulation of financial practice and corporate governance. Named after Senator Paul Sarbanes and Representative Michael Oxley, who were its main architects, it also set a number of deadlines for compliance. This Act was primarily in response to : .

a series of corporate scandals involving Enron, WorldCom, Global Crossing, Tyco and numerous others.

rising complaints by investors and security analysts over the financial accounting for stock options.

a dramatic rise in the US trade deficit.