On the other hand, advocates of the Kennedy approach have been emboldened by the quick success of the tough measures in the accounting and corporate governance legislation.
Corporate governance legislation passed earlier this summer ordered the securities agency to draft rules requiring lawyers "to report evidence of a material violation of securities law" to a company's general counsel and then, if the general counsel does not "appropriately respond," to the company's audit committee or its board of directors.
After several punishing weeks that had eroded market confidence, investors appeared to take comfort in an agreement reached by Congress on accounting and corporate governance legislation and in the display of confidence by companies that are pledging to buy back their own stocks.
Our examination of governance efforts indicates that national government legislation, voluntary governance mechanisms, and global law enforcement efforts attempting to address the public health and cybersecurity risks of illicit online pharmacies have not been adequate, especially in the context of unregulated eDTCA.
Corporate-governance legislation adopted this year makes it easier to remove a company officer or director.
But Mr. Oxley, who sponsored the House's version of accounting and corporate-governance legislation, warned that the Senate was turning into a "feeding frenzy".
Other members of Congress were nodding in the direction of their pending corporate-governance legislation, which was the subject of a House-Senate deal yesterday.
Is there a firm in America that is not seeking several new directors who can demonstrate unquestioned independence of mind and sound judgment (if they can add up, they even get to chair the audit committee), to reassure investors and comply with new corporate-governance legislation?
Accountability, accountable, accreditation, administration, professional associations, civil society, corruption, decentralization, decentralized, decentralize, governance, government, leadership, legislation, licensing, policy analysis, policy implementation, political economy, regulation, stewardship, transparency.
Yesterday's nearly unanimous passage by both houses of Congress of sweeping corporate governance reform legislation was the political equivalent of panic buying.
