Restoring Public Confidence in Corporate America
The President has proposed far-reaching corporate reforms to help enforce the highest ethical standards for American businesses. These reforms include:
Doubling jail time for financial fraud.
Creating a Corporate Fraud Task Force to expose corporate crime and punish corporate wrongdoers.
Ensuring that corporate executives cannot transfer company funds to their personal accounts while their company is under investigation.
Significantly increasing the number of enforcement officers at the SEC.
Ensuring that executives who commit improper acts forfeit their phony profits.
Creating a strong, independent board that will provide effective oversight of the accounting profession.
Implementing tough new rules to ensure that research analysts are independent. Analysts should be trustworthy advisors, not conflicted salesmen with hidden agendas.
Challenging every CEO in America to describe in the company's annual report - prominently and in plain English - details of his or her salary, bonuses, and benefits.
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