Congress for approval at a broad criminal penalties for business fraud.
In the midst of several business scandals that have shaken consumer confidence and rockten the stock market, the House of Representatives and the Senate agreed Wednesday to negotiate a guide in terms of final punishment of wrongdoers executive with broad criminal sanctions and the creation a strict monitoring board monitoring the accounts of the industry.
Not since the Securities and Exchange Commission “was adopted after the global economic crisis, the Congress such a radical overhaul of the nation’s securities provisions.
The agreement in a House conference committee of Senate clears the way for both chambers to approve the legislation and send it to President Bush for his signature next week. The house is expected, the approval of the Conference report on Thursday before the release of their annual summer break.
White House Press Secretary Ari Fleischer, said Bush welcomed the signing of the law.
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