Sarbanes-Oxley Act Of 2002

Business / Taxes / Sarbanes-Oxley Act Of 2002: Named after its main Congressional sponsors, Senator Paul Sarbanes and Representative Michael Oxley, the Sarbanes-Oxley Act of 2002 introduced new financial practices and reporting requirements, including executive certification of financial reports, plus more stringent corporate governance procedures for publicly traded US companies and added protections for whistleblowers. Also known as the Corporate and Auditing Accountability, Responsibility, and Transparency Act, or more colloquially as SarbOx or SOX, the law was passed in response to several high-profile corporate scandals involving accounting fraud and corruption in major US corporations. The law also created the Public Company Accounting Oversight Board (PCAOB), a private-sector, nonprofit corporation that regulates and oversees public accounting firms. The law has seen its share of controversy, with opponents arguing that the expense and effort involved in complying with the law reduce shareholder value, and proponents arguing that increased corporate responsibility and transparency far outweigh the costs of compliance.

Other Words for Act

Act Verb Synonyms: behave (oneself), carry on, deport oneself, comport oneself, conduct oneself
Act Noun Synonyms: deed, action, undertaking, operation, step, move, feat, exploit, accomplishment, achievement
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Out-Of-The-Money Option

Business / Finance / Out-Of-The-Money Option: A call option is out of the money if the strike price is greater than the market price of the underlying security. That is, you have the right to purchase a security at a price higher than the market MORE

Outside Of You

Business / Finance / Outside Of You: Used for listed equity securities. Another order bidding for or offering stock at the same price that the trader has put on the floor himself, represented by another broker in the trading crowd. These MORE

Out-Of-The-Money

Business / Taxes / Out-Of-The-Money: An option is out-of-the-money when the market price of an instrument on which you hold an option is not close to the strike price. Call options — which you buy when you think the price is going up MORE

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