Home > Uncategorized > >SEC uses SOX 1103 to freeze payments to officers

>SEC uses SOX 1103 to freeze payments to officers

>SEC uses Sarbanes-Oxley section 1103 to temporarily freeze proposed payments to public company officers:

The U.S. Court of Appeals for the 9th Cir. recently upheld the right of the SEC to seek a temporary freeze on certain funds that a company proposes to pay to a company officer, director or affiliate during a limited time in which the SEC is investigating possible securities fraud. See, SEC v. Yuen (9th Cir. U.S. Court of Appeals).

http://www.ca9.uscourts.gov/ca9/newopinions.nsf/A7FC5F0B39BF868A88256FCB007B1F15/$file/0356129.pdf?openelement

Dave Tate, CPA, Esq.
http://davidtate.us
tateatty@yahoo.com

Advertisements
Categories: Uncategorized
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s