The One-Tier Board
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The One-Tier Board (IVOR nr. 85) 2012/3.7.1.4:3.7.1.4 Regulatory action
The One-Tier Board (IVOR nr. 85) 2012/3.7.1.4
3.7.1.4 Regulatory action
Documentgegevens:
Mr. W.J.L. Calkoen, datum 16-02-2012
- Datum
16-02-2012
- Auteur
Mr. W.J.L. Calkoen
- JCDI
JCDI:ADS600704:1
- Vakgebied(en)
Ondernemingsrecht (V)
Toon alle voetnoten
Voetnoten
Voetnoten
All the states have their own Securities Laws, which are called 'blue sky' laws. The name 'blue sky' comes from the proverbial positive promising 'only good weather' information provided by the issuers of securities. Young associates in law firms do 'blue sky surveys' for issuing clients and check all the state laws.
Deze functie is alleen te gebruiken als je bent ingelogd.
Through federal or state prosecutors the government can bring criminal or civil actions against directors under federal and state "blue sky" securities laws.1 The SEC can bring civil actions for securities laws violations. The US Department of Justice is the regulatory entity that enforces federal criminal law by prosecuting criminal conduct. For example, the Department of Justice successfully brought charges against Bernie Ebbers, former chairman and CEO of WorldCom, resulting in a 25-year prison sentence. Directors can also be held liable under many other laws, e.g. environmental or foreign corrupt practice regulations.