Word: enronize
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...exists.) The fsa's remit: working with firms to pinpoint potential risks long before things go wrong, rather than simply prescribing rules. While the U.K. watchdog listens, suggest industry representatives, U.S. regulators prefer to bark. The U.S. Sarbanes-Oxley Act, a 2002 response to the accounting scandals that toppled Enron and WorldCom, was intended to stiffen standards of corporate governance in public firms. In reality, the cumbersome auditing requirements - not to mention the cost and time involved in complying - have put many firms off listing on U.S. stock exchanges...
...that performance. To tap overseas investors, China's best companies?from mobile-phone operators to insurance firms?have made Hong Kong's stock market their No. 1 choice for going public. Why? The imposition of onerous reporting requirements on companies listing in the U.S. in the wake of the Enron scandal has knocked some of the shine off New York, while Chinese bourses in Shanghai and Shenzhen are often considered to be too immature and restricted (foreigners are allowed to trade freely only in certain shares). Besides, Hong Kong has no shortage of local and international investors who love...
Former vice president at Enron, where she blew the whistle on fraudulent accounting...
SENTENCED. Jeffrey Skilling, 52, vilified former CEO of Enron who was convicted in May for his role in engineering one of the biggest frauds in corporate history; to 24 years and four months in prison, the longest term yet for an Enron defendant; in Houston. At his hearing Skilling, whose arrogance and lack of remorse fueled outrage over the scandal, told the judge, "I am innocent of every one of these charges...
...Still, while that may be settled, Skilling doesn't think his fate is. The former Enron CEO told Judge Lake that he is innocent and plans to appeal his case. Lay's lead criminal attorney thinks Skilling has a good chance. "This case is going to be reversed," Ramsey said at the courthouse."The Fifth Circuit has bounced back or modified virtually every Enron-related conviction." Which means that even after the issue of money is put to rest, the Enron case...