The SEC’s 9/11

According to Chris Steskel, a former federal prosecutor, the Bernie Madoff case will be viewed historically as “the SEC’s 9/11. It (the SEC) will be a lot more aggressive and proactive for the next several years — pounce first and ask questions later.”

Richard Scheff, a white-collar defense attorney and former assistant secretary for law enforcement for the Treasury Department, suggested recently that he’s seen higher jail terms imposed on white-collar defendants since Bernie Madoff was sentenced to a 150-year sentence. “But that won’t end fraud,” he said.

“As long as there’s greed, people will always try to get away with something,” he said. “There are schemes being hatched right now.”

What actions would you suggest the SEC take to prevent the next financial crisis?

A group of finance and accounting executives have taken bold steps to help the SEC prevent the next financial crisis.  Their company, zEthics.com offers an innovative solution: full disclosure.  Investment professional gain confidence and trust in publicly traded companies.  Publicly traded companies gain investor and public acceptance of their ethics and corporate governance programs, as well as extended visibility into customers, suppliers and competitors to assess business risks and qualify business opportunities.

Today, transparency into publicly traded companies is amorphous.  Information is often incomplete, irrelevant or outright incomprehensible. zEthics.com hopes to demonstrate that transparency can work.  When information is relevant, standardized and public, it fosters intelligent decision-making.

Are you willing to take a bold step toward financial security by anonymously disclosing information about the questionable business practices of your publicly traded company and its executives?

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About zethics
CEO and founder of zEthics, Inc. Thirty years of experience with finance and accounting background in public private sectors.

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