Unethical insider trading by government officials inspired both the Sarbanes-Oxley Act and CLERP 9.

Question

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The Sarbanes-Oxley Act was primarily inspired by major corporate and accounting scandals (e.g., Enron, Tyco International, Adelphia, Peregrine Systems, and WorldCom), not by unethical insider trading by government officials. CLERP 9 (Corporate Law Economic Reform Program Act 2004) in Australia was also aimed at improving corporate governance and protecting investors, not specifically inspired by government officials' insider trading.

Unethical Insider Trading by Government Officials Inspired Both the Sarbanes-Oxley