[SamBees]

HAHAHAHA! SO, new rules won't be "skirted"!? HAHAHAHA!

I find it funny that we are being told that EVEN MORE LAWS will solve the problem of liars in the boardrooms across America.

No, laws do not make men honest.

[swheats]

This appears to update existing laws and increases penalties. Seems they are needed considering the brazenness of the crimes.

U.S. lawmakers target corporate wrongdoers
The U.S. House and U.S. Senate passed bills last week that include tougher penalties for corporate fraud. A conference committee has until next month to pass a compromise measure. Here's a comparison of the two bills:

HOUSE

• Creates new penalties for corporate fraud and document shredding, including prison terms of up to 25 years for securities fraud. Company chairmen, CEOs and chief financial officers who certify false company financial reports would face prison terms of 10 to 20 years and fines of $1 million to $5 million.
  
  
• Increases sentences for mail and wire fraud from five years to 20 years.
  
  
• Creates criminal penalties for company officials who retaliate against whistle-blowers.
  
  SENATE
  
  
• Creates new penalties for corporate fraud and document shredding, including 10-year prison terms for securities fraud. Chief executive officers and chief financial officers who certify false company financial reports would get prison terms of five to 10 years and fines of $500,000 to $1 million.
  
  Also doubles sentences for mail and wire fraud, blocks payments to company officials suspected of wrongdoing, extends the period of time in which defrauded investors can bring lawsuits against companies and gives federal protection to company whistle-blowers.

  U.S. lawmakers target corporate wrongdoers