Before SOX 578

  • What was the corporate governance regulatory framework in the US before the SOX?

  • Like this…
    …i.e. zip.

  • OK, I got the message. But can you give me a short history of CG regulation in US… may be refer to a website which gives this info…

  • Hi Denis,
    You are being too negative.
    There was no specific law, but I would believe that some governance guidelines and codes of best practise were used as reference, such as:

    • CalPERS - corporate Governance core Principles and guidelins - April 1998;
    • Core Policies, General Principles, Positions and Explanatory Notes, from the Council of Intitutional Investors, March 2000
    • Report and recommendations, from Blue Ribbon Commission on improving the effectiveness of Corporate Audit Committees, 1999
      Not to mention the international influence from the Organisation for Economic Cooperation and Development, International Corporate Governance Network,…
      None of these have a mandatory nature. But sound that in the UK there is none too.
      Maybe the act of 1933 would cover somehow the Corporate Governance matters - to be verified.

  • hello.
    I am also interested what kind of legal regulations existed befor SOX in the USA?
    I guess none, cause all that I’ve found so far were guidelines or best practices, but no law addressing corporate governance.?
    Thanks for the answer in advance.

Log in to reply