Spitzer cautions against easing corporate reforms
Headline News
Many of the efforts to soften the corporate accountability reforms of the 2002 Sarbanes-Oxley Act are being pushed by the same corporations that employed questionable accounting and business practices before the Sarbanes-Oxley reforms, New York state attorney general and governor-elect Eliot Spitzer said in an interview with the Financial Times published Monday.
Last week, US Treasury Secretary Henry Paulson accused Sarbanes-Oxley of raising the cost of doing business in America, citing declining share sales since 2002 as one example of its impact, and recommended legislative tweaks to the Act, especially to the internal control structure requirements of Section 404. Spitzer said Monday that individual corporations are responsible for their own poor performances, and that corporate accountability and ethics will strengthen US markets in the long run.
The Sarbanes-Oxley Act has been an object of criticism since its passage in the wake of the Enron debacle and other high-profile corporate scandals. Rep. Michael Oxley, one of the law's co-sponsors, said last year that the legislation was "rushed" and included "excessive" corporate reforms. A GAO report earlier this year noted that an increasing number of small businesses are going private in order to avoid disproportionately higher costs of complying with the law, prompting several senators to urge regulators to find ways to make it less onerous for smaller companies to comply.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.