Sarbanes-Oxley? It sounds more like a debilitating disease than a remedy for corporate malfeasance.
The unusual moniker notwithstanding, the latest securities legislation drafted by Congressman Michael Oxley (R.-Ohio), chairman of the House Financial Services Committee, and Senator Paul Sarbanes (D.-Md.), is widely considered one of the most significant corporate reform bills passed in more than 60 years. True to its billing, the Sarbanes-Oxley Act contains a considerable number of provisions geared toward cleaning up corruption on Wall Street and creating greater transparency in company balance sheets - fund companies included.