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Debasish Bose edited SOX_Act_tried_to_address__.md
almost 8 years ago
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3. **Weak corporate governance**: SOX mandated that chief executive members of public corporations (usually CEO or CFO) must take individual responsibility for integrity of the quarterly and annual financial reports. Forced relinquishment of benefits and civil penalties exist in case of non-compliance.
4. **Security analysts' conflict of interests**: Other than publicly available financial statements of corporations, retail investors and high networth individuals (HNI) often depend on insightful analysis of various security analysts before making any investments on those companies. A stock analyst fraudulently inflating the investment hypothesis of a given public company in exchange of commission from management is
again a classic example of "conflict of interest". SOX Act defined strict code of conduct for all securities analyst.
5.