How Did Goldman Avoid Violation of SOX in Advancing Cash

question 43

Multiple Choice

How did Goldman avoid violation of SOX in advancing cash to two of its officers?

• A) It made them a loan
• B) It made them an interest-free loan
• C) It purchased stock from the executives
• D) It had them issue a promissory note

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Definitions:

Labor-Management Relations Act

A United States law that amends the National Labor Relations Act and is intended to limit certain practices by labor and management that can harm the general economy.

National Labor Relations Act

A foundational statute in United States labor law which protects the rights of employees and employers, to encourage collective bargaining and to curtail certain private sector labor and management practices.

Union Negotiation

The process in which representatives of a labor union and an employer discuss and settle on the terms of employment, such as wages, hours, working conditions, and benefits.

EEOC

The Equal Employment Opportunity Commission is a federal agency that enforces laws against workplace discrimination.