5. Section 407 requires the companies to disclose whether at least 1 member of its audit committee is a financial expert. Section 408 provides for enhanced review of periodic disclosures by Board. Section 409 requires issuers to disclose material changes in the financial condition or operations on a rapid and current basis. This title IV is focusing on making sure that financial statements are transparent and managements are not trying to hide anything away from investing public. Personal loans to executive officers and directors are not allowed since it happened to be an issue with Bernie Ebbers at WorldCom and Dennis Kozlowski and Mark Swartz at
5. Section 407 requires the companies to disclose whether at least 1 member of its audit committee is a financial expert. Section 408 provides for enhanced review of periodic disclosures by Board. Section 409 requires issuers to disclose material changes in the financial condition or operations on a rapid and current basis. This title IV is focusing on making sure that financial statements are transparent and managements are not trying to hide anything away from investing public. Personal loans to executive officers and directors are not allowed since it happened to be an issue with Bernie Ebbers at WorldCom and Dennis Kozlowski and Mark Swartz at