SEC Compliant: What Happens If You Aren’t

sec regulationAre you sure that your company is fully compliant with SEC regulations? If there is any doubt, now is the time to investigate. It would be prudent to consult with attorney James Braden, a San Francisco CA business lawyer.

He has a business law firm in San Francisco and can help make sure that you are in full compliance with all SEC requirements. If there are any legal complications that result from any confusion on this issue, he can help you to resolve them.

What is the Penalty for Noncompliance?

The Sarbanes-Oxley (SOX) Act requires all registered companies to keep a complete and continuous record of all paperwork that is generated by an audit. The time that you are required to keep this paperwork is 5 years.

Another SEC requirement is that every CEO employed by a company must disclose all details concerning the financial status of the business as such relates to its operations.

If you fail to comply with either of these requirements or any others, the penalties may be very severe. For example, willful destruction of documents that the SEC wishes to review may result in a felony sentence of 10 years in prison.

Other offenses may result in misdemeanor or other felony charges that may lead to heavy fines or time in prison. The SEC takes these offenses very seriously and will not hesitate
to impose these penalties for various types of noncompliance.

Contact Attorney James Braden for More Information

Attorney James Braden can help you resolve your SEC compliance issues. Get in touch with his San Francisco business law firm to learn more about what he can do to assist you.