Debasish Bose edited SOX_Act_tried_to_address__.md  almost 8 years ago

Commit id: f79e64b0b84f919b856dd26745c71a604cb66570

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5. **inadequate disclosure provisions**: SOX Act amended existing regulations regarding financial disclosure requirements with reporting of "off-balance-sheet" transactions, stock transactions of corporate officers especially senior executives and more. Public shareholders of respective corporations really appreciated these additional disclosure requirements in relation to their investments.   6. **Inadequate funding of the Securities and Exchange Commission**: To enforce all regulations concerning various parties of the largest financial market of the world, SEC lacked necesary funding in the pre-SOX era. SOX ensured that SEC has adequate budgetary approvals for these additional regulations and their administrations