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Who sponsored the Sarbanes-Oxley Act?
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Enron scandal
The Enron logo outside the company's headquarters, Houston.
The Sarbanes-Oxley Act of 2002 was sponsored by Republican Representative Michael G. Oxley and Democratic Senator Paul Sarbanes.1
Passed in the wake of the Enron scandal and other corporate accounting failures, the legislation received overwhelming bipartisan support before being signed into law by President George W. Bush on July 30, 2002. The act was designed to restore investor confidence by strengthening auditing standards, improving financial disclosures, and establishing stricter penalties for white-collar crimes.1