What are the key regulatory reforms implemented after major scandals?

What are the key regulatory reforms implemented after major scandals?

Key reforms often include stricter compliance regulations, enhanced transparency requirements, and increased penalties for violations.

Can you give examples of specific scandals that led to these reforms?

Sure! The Enron scandal led to the Sarbanes-Oxley Act, while the 2008 financial crisis prompted reforms like the Dodd-Frank Act.

How do these reforms impact businesses today?

These reforms increase accountability and transparency, which can enhance investor confidence but may also raise compliance costs for businesses.

Are there any criticisms of these regulatory reforms?

Yes, some argue that they can stifle innovation and create burdensome compliance processes, especially for smaller companies.