Re: morning
- From: Ilitirit Sama <ilitirit@xxxxxxxxx>
- To: cpt-fgc@xxxxxxxxxxxxx
- Date: Thu, 6 Nov 2014 15:20:00 +0200
SOX compliance... ugh, what a drag.
Took us years to implement when Naspers first enlisted on the NYSE. And
when we finally did it, they withdrew from the stock exchange. Years worth
of senseless bureaucratic controls down the drain.
Then we read this:
http://fortune.com/2012/08/22/mike-oxley-on-sarbox-his-one-big-regret/
On Thu, Nov 6, 2014 at 3:03 PM, Donaldson, Alasdair <
alasdair.donaldson@xxxxxxxxxx> wrote:
> Okay, so I tend to deal with financial regulations a lot of the time –
> mainly risk management ones. A while ago the Sarbanes-Oxley (SOX) regs came
> into being. This was mainly because of stuff like the Enron scandal. These
> SOX regs were supposed to promote good financial governance.
>
>
>
> Fast forward a few years and the US Fisheries guys board a fishing boat
> and claim that the captain there had some undersized fish on board. They
> tell him to get to shore for an inspection. He tells his crew to dump the
> fish overboard. So far no real surprises. Usually doing this gets fishermen
> a $500 fine or temp suspension of their license. This time the US gov
> decides that dumping a fish overboard is the same as shredding documents
> and that random fishing boats are the same as publicly listed corporations.
> They charge the captain of the boat with shredding evidence. Under SOX
> regs, the guy can get 20 years for this.
>
>
> http://www.foxnews.com/opinion/2014/11/05/fishy-business-at-supreme-court-florida-capt-john-yates-sad-saga/?intcmp=latestnews
>
>
>
> Fun times.
>
>
>
>
>
> *From:* cpt-fgc-bounce@xxxxxxxxxxxxx [mailto:cpt-fgc-bounce@xxxxxxxxxxxxx]
> *On Behalf Of *Ilitirit Sama
> *Sent:* 06 November 2014 2:10 PM
> *To:* cpt-fgc@xxxxxxxxxxxxx
> *Subject:* Re: morning
>
>
>
> Woah....
>
>
> http://jordaneldredge.com/projects/winamp2-js/
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