Question

Which of the following statements is true about the Sarbanes-Oxley Act of 2002?

A) It prohibits any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company.

B) It allows for the full or partial disclosure of previously unreleased information and documents controlled by any public enterprise.

C) It requires financial institutions to keep records of cash purchases of negotiable instruments and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities.

D) Areas covered under this act include maintaining generally accepted accounting practices and ensuring company structure and processes that enhance integrity and reputation.

E) It encourages commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods.

Answer

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