The Sarbanes-Oxley Act of 2002 reversed the Glass-Steagall Act's prohibition of banks selling insurance or acting as investment banks.

Question

Quizplus · Accepted Answer

The Sarbanes-Oxley Act of 2002 was designed to protect investors from fraudulent financial reporting by corporations, not to address the separation of commercial and investment banking, which was the focus of the Glass-Steagall Act.

The Sarbanes-Oxley Act of 2002 Reversed the Glass-Steagall Act's Prohibition