kaal:claim:2273857-034

The SEC never actually interpreted Section 402 of Sarbanes-Oxley and instead merely acquiesced in a law firm memorandum interpreting the provision, so private entities in effect fulfilled the SEC's statutory mandate.

Source quote, verbatim

The SEC, however, never actually interpreted section 402 and merely acquiesced with a law firm memorandum interpreting section 402.

From

Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013), II.2.b Contraction, p. 18
https://ssrn.com/abstract=2273857 · source PDF

Cite as

Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013). SSRN: https://ssrn.com/abstract=2273857

Holds when

Section 402 of SOX, the prohibition on issuer credit to directors and officers

Classification

empiricalsupport: evidencedfailure: regulatory abdication to private interpretationfamily: regulatory-capture-and-incumbent-advantagerisk-and-incentives

Verify

The quote above is an exact substring of the source PDF, whose sha256 is e7cb3dea40593135acc99a9b00690138fe01020514ebf388f5140e1b0e59e82a. Extraction method: pdf-text-layer.
Attestation record: colloquium/attestations/1bd160f6aebfcd5f...json
Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/2273857-034.md | sha256sum