Exam 35: Regulation of Corporate Governance

In 2010, the SEC issued a rule required by the Dodd-Frank Act that requires a company to disclose (1) the median of the annual total compensation of all its employees except the CEO, (2) the annual total compensation of its CEO, and (3) the ratio of those two amounts.

Congress replaced the accounting industry's self-regulation of auditing with a new federal agency called the Private Company Accounting Oversight Board.

The U.S. Supreme Court __________ the lower court's decision and ruled in favor of Digital Realty. (Digital Realty Trust Inc v. Somers, 138 S. Ct. 767 (2018).

The Dodd-Frank whistleblower provisions are based on a __________ plan.

Rules mandated by Dodd-Frank require companies to disclose their __________ structure in their SEC filings.

In __________, the SEC issued a rule required by the Dodd-Frank Act that requires a company to disclose (1) the median of the annual total compensation of all its employees except the CEO, (2) the annual total compensation of its CEO, and (3) the ratio of those two amounts.

Congress replaced the __________ industry's self-regulation of auditing with a new federal agency called the Public Company Accounting Oversight Board.

The Sarbanes-Oxley Act makes key __________ officers more accountable for financial reporting by requiring that chief executive officers and chief financial officers personally certify the accuracy of all required SEC filings.

The American Recovery and Reinvestment Act of 2009 was created in order to:

The Sarbanes-Oxley Act specifically gives the SEC the authority to intervene in any __________ payments made by a company that may be the subject of an SEC investigation.

Within five months of the Troubled Assets Relief Program law executive compensation mandates, approximately __________ banks were approved to pay back the TARP funds.

The Sarbanes-Oxley Act provided a sweeping and comprehensive amendment to the '33 and '34 Acts to address the corporate misdeeds that became public in 2000.

Under Sarbanes-Oxley, requiring the payback of corporate bonuses that were awarded and later found to be based on false disclosures is called a __________ provision.

The Sarbanes-Oxley Act was intended to impose stricter regulation and controls on how corporations do business through regulation of:

Accounting firms that audit public companies accessing __________ capital markets are required to register with the Public Company Accounting Oversight and are subject to its oversight and enforcement authority.

Under the Dodd-Frank Act, the whistleblower rewards range from __________ percent of the recovery.

The loan program created by the American Recovery and Reinvestment Act of 2009, established the __________ to administer the loans.

What caused a stunning reversal and ordered retrial by the U.S. Supreme Court in Arthur Andersen LLP v. United States, of Andersen's conviction in 2005?

The Sarbanes-Oxley Act specifically gives the SEC the authority to intervene in any extraordinary payments made by a company that may be the subject of an SEC investigation.

What Act no longer applies to the SEC in an investigation under the Dodd-Frank Act?