Question

The sarbanes-oxley act requires that information pertaining to an insider's transaction be filed

group of answer choices
A. electronically on the day of the transaction.
B. by any effective means within 10 business days after the close of the calendar month in which the transaction occurred.
C. by mail, postmarked within five business days of the transaction.
D. electronically within two business days of the transaction.
E. by any effective means within 10 business days of the transaction.

Answer 1

The Sarbanes-Oxley Act requires insiders to file information about their transactions electronically within two business days of the transaction, aiming to increase transparency and protect investors. The correct answer is option D.

Step-by-step explanation:

The Sarbanes-Oxley Act was enacted in 2002 as a response to major accounting scandals involving corporations like Enron, Tyco International, and WorldCom. The main objective of the Act is to improve the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and to protect investors from the possibility of fraudulent accounting activities by corporations. The Act requires that information pertaining to an insider's transaction must be filed electronically within two business days of the transaction.