SOSC 2342 Chapter Notes - Chapter 5: Listing Rules, Financial Regulation, Consumer Protection

• School: York University
• Department: Social Science
• Course: SOSC 2342
• Professor: Thi Viet Nga Dao

Document Summary

Company law: defines the way in which they are incorporated, how their directors are appointed, and how shareholder relation should be handled, as well as laying down disclosure and filing requirements. Companies, their directors, and their offices can also find themselves exposed to other legislation, such as health and safety, consumer protection, and environmental standards: company and other relevant law, regulations, accounting standards. Companies are incorporated with a state (each state has its own company law to guard its rights) Federal oversight of companies is provided by sec: sec is to protect investors, maintain fair, orderly, and efficient markets, and to facilitate capital information, sec oversees securities exchanges, securities brokers and dealer, investment advisers and mutual funds. Required certification of internal auditing, increased financial disclosure, and imposed criminal and civil penalties on directors for non-compliance. Section 302: mandated a set of internal procedures designed to ensure accurate financial disclosure.