Securities Advisory: Section 906 Certifications and Prohibition On Personal Loans to Executives
8/2/2002
This Advisory is the first in a series of advisories describing some of the effects of the newly enacted Sarbanes-Oxley Act. Since the Act passed so quickly in Congress, it is not surprising that the Act contains numerous provisions which are not entirely clear and, in some cases, not fully consistent. A principal purpose of this Advisory is to highlight various provisions of the Act that apply to public companies without any further rulemaking by the SEC and require your immediate question. The Advisory gives a brief overview on the following topics related to Sarbanes-Oxley:
1) Section 906 Certification of periodic reports by executive and financial officers
2) Practical guidance in preparing for certification
3) Differing interpretations of the employee whistleblower protection
4) Prohibition on personal loans to executives
5) Accelerated disclosure of Section 16 Reports
