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174-506: The Sarbanes–Oxley Act of 2002 is a United States federal law that mandates certain practices in financial record keeping and reporting for corporations . The act, Pub. L. 107–204 (text) (PDF) , 116 Stat. 745 , enacted July 30, 2002 , also known as the "Public Company Accounting Reform and Investor Protection Act" (in the Senate ) and "Corporate and Auditing Accountability, Responsibility, and Transparency Act" (in
348-401: A jury , and aggressive pretrial "law and motion" practice designed to result in a pretrial disposition (that is, summary judgment ) or a settlement. U.S. courts pioneered the concept of the opt-out class action , by which the burden falls on class members to notify the court that they do not wish to be bound by the judgment, as opposed to opt-in class actions, where class members must join into
522-704: A 1984 case, Davis v. Bandemer , the Supreme Court held that gerrymandered districts could be struck down based on the Equal Protection Clause , but the Court did not articulate a standard for when districts are impermissibly gerrymandered. However, the Court overruled Davis in 2004 in Vieth v. Jubelirer , and Court precedent holds gerrymandering to be a political question . According to calculations made by Burt Neuborne using criteria set forth by
696-488: A 70% higher pension than other federal employees based on the first 20 years of service. They become eligible to receive benefits after five years of service (two and one-half terms in the House). The FERS is composed of three elements: Members of Congress may retire with full benefits at age 62 after five years of service, at age 50 after 20 years of service, and at any age after 25 years of service. With an average age of 58,
870-548: A British classic or two, a famous old case, or a nod to Blackstone ; but current British law almost never gets any mention." Foreign law has never been cited as binding precedent, but as a reflection of the shared values of Anglo-American civilization or even Western civilization in general. Federal law originates with the Constitution, which gives Congress the power to enact statutes for certain limited purposes like regulating interstate commerce . The United States Code
1044-574: A FEHBP plan upon retirement. The ACA and the final rule do not affect members' or staffers' eligibility for Medicare benefits. The ACA and the final rule also do not affect members' and staffers' eligibility for other health benefits related to federal employment, so members and staff are eligible to participate in FSAFEDS (which has three options within the program), the Federal Employees Dental and Vision Insurance Program, and
1218-503: A breach of general obligations imposed by law and not by contract. This broad family of civil wrongs involves interference "with person, property, reputation, or commercial or social advantage." United States House of Representatives Minority (213) Vacant (2) [REDACTED] [REDACTED] The United States House of Representatives is the lower chamber of the United States Congress , with
1392-551: A candidate. Therefore, Article I, Section 5, which permits each House to be the judge of the qualifications of its own members does not permit either House to establish additional qualifications. Likewise a State could not establish additional qualifications. William C. C. Claiborne served in the House below the minimum age of 25. Disqualification: under the Fourteenth Amendment , a federal or state officer who takes
1566-452: A court as persuasive authority as to how a particular statute or regulation may be interpreted (known as Skidmore deference), but are not entitled to Chevron deference. Unlike the situation with the states, there is no plenary reception statute at the federal level that continued the common law and thereby granted federal courts the power to formulate legal precedent like their English predecessors. Federal courts are solely creatures of
1740-490: A false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the investigation or proper administration of any matter within the jurisdiction of any department or agency of the United States or any case filed under title 11, or in relation to or contemplation of any such matter or case, shall be fined under this title, imprisoned not more than 20 years, or both. Section 806 of
1914-520: A federal statutory requirement since 1967 pursuant to the act titled An Act For the relief of Doctor Ricardo Vallejo Samala and to provide for congressional redistricting . Before that law, general ticket representation was used by some states. States typically redraw district boundaries after each census, though they may do so at other times, such as the 2003 Texas redistricting . Each state determines its own district boundaries, either through legislation or through non-partisan panels. Malapportionment
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#17327829369472088-581: A final version is published in the Federal Register. The regulations are codified and incorporated into the Code of Federal Regulations (CFR) which is published once a year on a rolling schedule. Besides regulations formally promulgated under the APA, federal agencies also frequently promulgate an enormous amount of forms, manuals, policy statements, letters, and rulings. These documents may be considered by
2262-532: A four-year term, the resident commissioner's role is identical to the delegates from the other territories. The five delegates and resident commissioner may participate in debates; before 2011, they were also allowed to vote in committees and the Committee of the Whole when their votes would not be decisive. States entitled to more than one representative are divided into single-member districts . This has been
2436-597: A handful of areas like insurance , Congress has enacted laws expressly refusing to regulate them as long as the states have laws regulating them (see, e.g., the McCarran–Ferguson Act ). After the president signs a bill into law (or Congress enacts it over the president's veto), it is delivered to the Office of the Federal Register (OFR) of the National Archives and Records Administration (NARA) where it
2610-438: A legislative branch which enacts state statutes, an executive branch that promulgates state regulations pursuant to statutory authorization, and a judicial branch that applies, interprets, and occasionally overturns both state statutes and regulations, as well as local ordinances. They retain plenary power to make laws covering anything not preempted by the federal Constitution, federal statutes, or international treaties ratified by
2784-426: A lesser form of judicial deference known as Skidmore deference . Many lawsuits turn on the meaning of a federal statute or regulation, and judicial interpretations of such meaning carry legal force under the principle of stare decisis . During the 18th and 19th centuries, federal law traditionally focused on areas where there was an express grant of power to the federal government in the federal Constitution, like
2958-721: A lighter touch. In the UK, the non-statutory Combined Code of Corporate Governance plays a somewhat similar role to SOX. See Howell E. Jackson & Mark J. Roe, "Public Enforcement of Securities Laws: Preliminary Evidence" (Working Paper January 16, 2007). London based Alternative Investment Market claims that its spectacular growth in listings almost entirely coincided with the Sarbanes–Oxley legislation. In December 2006, Michael Bloomberg , New York's mayor, and Chuck Schumer , U.S. senator from New York, expressed their concern. The Sarbanes–Oxley Act's effect on non-U.S. companies cross-listed in
3132-409: A matter of fundamental fairness, and second, because in the absence of case law, it would be completely unworkable for every minor issue in every legal case to be briefed, argued, and decided from first principles (such as relevant statutes, constitutional provisions, and underlying public policies), which in turn would create hopeless inefficiency, instability, and unpredictability, and thereby undermine
3306-415: A medical issue and others categorizing the same offense as a serious felony . The law of criminal procedure in the United States consists of a massive overlay of federal constitutional case law interwoven with the federal and state statutes that actually provide the foundation for the creation and operation of law enforcement agencies and prison systems as well as the proceedings in criminal trials. Due to
3480-540: A member requires only a simple majority, and does not remove that member from office. As a check on the regional, popular, and rapidly changing politics of the House, the Senate has several distinct powers. For example, the " advice and consent " powers (such as the power to approve treaties and confirm members of the Cabinet ) are a sole Senate privilege. The House, however, has the exclusive power to initiate bills for raising revenue, to impeach officials, and to choose
3654-556: A more deliberative upper house, elected by the lower house, that would represent the individual states, and would be less susceptible to variations of mass sentiment. The House is commonly referred to as the lower house and the Senate the upper house , although the United States Constitution does not use that terminology. Both houses' approval is necessary for the passage of legislation . The Virginia Plan drew
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#17327829369473828-521: A number of civil law innovations. In the United States, the law is derived from five sources: constitutional law , statutory law , treaties, administrative regulations , and the common law (which includes case law). If Congress enacts a statute that conflicts with the Constitution, state or federal courts may rule that law to be unconstitutional and declare it invalid. Notably, a statute does not automatically disappear merely because it has been found unconstitutional; it may, however, be deleted by
4002-468: A reaction to a number of major corporate and accounting scandals , including Enron and WorldCom . The sections of the bill cover responsibilities of a public corporation's board of directors, add criminal penalties for certain misconduct , and require the Securities and Exchange Commission to create regulations to define how public corporations are to comply with the law. In 2002, Sarbanes–Oxley
4176-543: A result, the process to gain ballot access varies greatly from state to state, and in the case of a third party in the United States may be affected by results of previous years' elections. In 1967, Congress passed the Uniform Congressional District Act , which requires all representatives to be elected from single-member-districts. Following the Wesberry v. Sanders decision, Congress
4350-407: A series of hearings on the problems in the markets that had led to a loss of hundreds and hundreds of billions, indeed trillions of dollars in market value. The hearings set out to lay the foundation for legislation. We scheduled 10 hearings over a six-week period, during which we brought in some of the best people in the country to testify ... The hearings produced remarkable consensus on the nature of
4524-438: A single MRA that can fund any expense—even though each component is calculated individually, the franking allowance can be used to pay for personnel expenses if the member so chooses. In 2011 this allowance averaged $ 1.4 million per member, and ranged from $ 1.35 to $ 1.67 million. The Personnel allowance was $ 944,671 per member in 2010. Each member may employ no more than 18 permanent employees. Members' employees' salary
4698-649: A small number of important British statutes in effect at the time of the Revolution have been independently reenacted by U.S. states. Two examples are the Statute of Frauds (still widely known in the U.S. by that name) and the Statute of 13 Elizabeth (the ancestor of the Uniform Fraudulent Transfer Act). Such English statutes are still regularly cited in contemporary American cases interpreting their modern American descendants. Despite
4872-529: A subsequent statute. Many federal and state statutes have remained on the books for decades after they were ruled to be unconstitutional. However, under the principle of stare decisis , a lower court that enforces an unconstitutional statute will be reversed by the Supreme Court. Conversely, any court that refuses to enforce a constitutional statute will risk reversal by the Supreme Court. The United States and most Commonwealth countries are heirs to
5046-615: A tax on inefficiency, encouraging companies to centralize and automate their financial reporting systems. This is apparent in the comparative costs of companies with decentralized operations and systems, versus those with centralized, more efficient systems. For example, the 2007 Financial Executives International (FEI) survey indicated average compliance costs for decentralized companies were $ 1.9 million, while centralized company costs were $ 1.3 million. Costs of evaluating manual control procedures are dramatically reduced through automation. The Committee of Sponsoring Organizations (COSO) Report, as
5220-468: A two-year term, with no term limit. In most states, major party candidates for each district are nominated in partisan primary elections , typically held in spring to late summer. In some states, the Republican and Democratic parties choose their candidates for each district in their political conventions in spring or early summer, which often use unanimous voice votes to reflect either confidence in
5394-479: A violation of any SEC rule or regulation, mail fraud, or wire fraud). Section 806 prohibits a broad range of retaliatory adverse employment actions, including discharging, demoting, suspending, threatening, harassing, or in any other manner discriminating against a whistleblower. Recently a federal court of appeals held that merely "outing" or disclosing the identity of a whistleblower is actionable retaliation. Remedies under Section 806 include: (A) reinstatement with
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5568-741: A voice in committees, and can introduce bills on the floor, but cannot vote on the ultimate passage of bills. Presently, the District of Columbia and the five inhabited U.S. territories each elect a delegate. A seventh delegate, representing the Cherokee Nation , has been formally proposed but has not yet been seated. An eighth delegate, representing the Choctaw Nation is guaranteed by treaty but has not yet been proposed. Additionally, some territories may choose to also elect shadow representatives , though these are not official members of
5742-400: A willingness to reconsider others. And that willingness could itself threaten to substitute disruption, confusion, and uncertainty for necessary legal stability. We have not found here any factors that might overcome these considerations. It is now sometimes possible, over time, for a line of precedents to drift from the express language of any underlying statutory or constitutional texts until
5916-427: A year or less in jail and a substantial fine. To simplify the prosecution of traffic violations and other relatively minor crimes, some states have added a third level, infractions . These may result in fines and sometimes the loss of one's driver's license, but no jail time. On average, only three percent of criminal cases are resolved by jury trial; 97 percent are terminated either by plea bargaining or dismissal of
6090-441: Is no general federal common law . Although federal courts can create federal common law in the form of case law, such law must be linked one way or another to the interpretation of a particular federal constitutional provision, statute, or regulation (which was either enacted as part of the Constitution or pursuant to constitutional authority). Federal courts lack the plenary power possessed by state courts to simply make up law, which
6264-827: Is Section 404, which requires management and the external auditor to report on the adequacy of the company's internal control on financial reporting (ICFR). This is the most costly aspect of the legislation for companies to implement, as documenting and testing important financial manual and automated controls requires enormous effort. Under Section 404 of the Act, management is required to produce an "internal control report" as part of each annual Exchange Act report. See 15 U.S.C. § 7262 . The report must affirm "the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting". 15 U.S.C. § 7262(a) . The report must also "contain an assessment, as of
6438-545: Is adequate in their home countries as well. On the other hand, the benefit of better credit rating also comes with listing on other stock exchanges such as the London Stock Exchange . Piotroski and Srinivasan (2008) examine a comprehensive sample of international companies that list onto U.S. and U.K. stock exchanges before and after the enactment of the Act in 2002. Using a sample of all listing events onto U.S. and U.K. exchanges from 1995 to 2006, they find that
6612-526: Is assigned a law number, and prepared for publication as a slip law . Public laws, but not private laws, are also given legal statutory citation by the OFR. At the end of each session of Congress, the slip laws are compiled into bound volumes called the United States Statutes at Large , and they are known as session laws . The Statutes at Large present a chronological arrangement of the laws in
6786-440: Is calculated based on three components: one for personnel, one for official office expenses and one for official or franked mail. The personnel allowance is the same for all members; the office and mail allowances vary based on the members' district's distance from Washington, D.C., the cost of office space in the member's district, and the number of non-business addresses in their district. These three components are used to calculate
6960-688: Is no charge for outpatient care if it is provided in the National Capital Region , but members are billed at full reimbursement rates (set by the Department of Defense) for inpatient care. (Outside the National Capital Region, charges are at full reimbursement rates for both inpatient and outpatient care). House members are eligible for a Member's Representational Allowance (MRA) to support them in their official and representational duties to their district. The MRA
7134-468: Is no legislation at the federal level mandating one particular system for elections to the House, systems are set at the state level. As of 2022, first-past-the-post or plurality voting is used in 46 states, electing 412 representatives, ranked-choice or instant-runoff voting in two states (Alaska and Maine), electing 3 representatives, and two-round system in two states (Georgia and Louisiana), electing 20 representatives. Elected representatives serve
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7308-462: Is not repugnant to domestic law or indigenous conditions. Some reception statutes impose a specific cutoff date for reception, such as the date of a colony's founding, while others are deliberately vague. Thus, contemporary U.S. courts often cite pre-Revolution cases when discussing the evolution of an ancient judge-made common law principle into its modern form, such as the heightened duty of care traditionally imposed upon common carriers . Second,
7482-543: Is occasionally abbreviated as either "MOC" or "MC" (similar to MP ). However, the abbreviation "Rep." for Representative is more common, as it avoids confusion as to whether they are a member of the House or the Senate . All members of Congress are automatically enrolled in the Federal Employees Retirement System , a pension system also used for federal civil servants , except the formula for calculating Congress members' pension results in
7656-602: Is often supplemented, rather than preempted. At both the federal and state levels, with the exception of the legal system of Louisiana , the law of the United States is largely derived from the common law system of English law , which was in force in British America at the time of the American Revolutionary War . However, American law has diverged greatly from its English ancestor both in terms of substance and procedure and has incorporated
7830-533: Is over; no boardroom in America is above or beyond the law." In response to the perception that stricter financial governance laws are needed, SOX-type regulations were subsequently enacted in Canada (2002), Germany (2002), South Africa (2002), France (2003), Australia (2004), India (2005), Japan (2006), Italy (2006), Israel, and Turkey. (See Similar laws in other countries below.) Debates continued as of 2007 over
8004-423: Is permitted in some states but not others. Three strikes laws in certain states impose harsh penalties on repeat offenders. Some states distinguish between two levels: felonies and misdemeanors (minor crimes). Generally, most felony convictions result in lengthy prison sentences as well as subsequent probation , large fines , and orders to pay restitution directly to victims; while misdemeanors may lead to
8178-545: Is referred to as the "upper" house, and the House of Representatives as the "lower" house. Since December 2014, the annual salary of each representative is $ 174,000, the same as it is for each member of the Senate . The speaker of the House and the majority and minority leaders earn more: $ 223,500 for the speaker and $ 193,400 for their party leaders (the same as Senate leaders). A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress votes not to accept it. Congress sets members' salaries; however,
8352-460: Is the most prominent of the small number of remaining equity courts. Thirty-five states have adopted rules of civil procedure modeled after the FRCP (including rule numbers). However, in doing so, they had to make some modifications to account for the fact that state courts have broad general jurisdiction while federal courts have relatively limited jurisdiction. New York, Illinois, and California are
8526-571: Is the official compilation and codification of the general and permanent federal statutes. Many statutes give executive branch agencies the power to create regulations , which are published in the Federal Register and codified into the Code of Federal Regulations . From 1984 to 2024, regulations generally also carried the force of law under the Chevron doctrine , but are now subject only to
8700-504: Is to have one party govern and the other party watch." The leadership structure of the House also developed during approximately the same period, with the positions of majority leader and minority leader being created in 1899. While the minority leader was the head of the minority party, the majority leader remained subordinate to the speaker. The speakership reached its zenith during the term of Republican Joseph Gurney Cannon , from 1903 to 1911. The speaker's powers included chairmanship of
8874-579: Is unconstitutional and districts must be approximately equal in population (see Wesberry v. Sanders ). Additionally, Section 2 of the Voting Rights Act of 1965 prohibits redistricting plans that are intended to, or have the effect of, discriminating against racial or language minority voters. Aside from malapportionment and discrimination against racial or language minorities, federal courts have allowed state legislatures to engage in gerrymandering to benefit political parties or incumbents. In
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#17327829369479048-414: Is unique in that it holds an all-party primary election on the general Election Day with a subsequent runoff election between the top two finishers (regardless of party) if no candidate received a majority in the primary. The states of Washington and California use a similar (though not identical) system to that used by Louisiana. Seats vacated during a term are filled through special elections , unless
9222-540: Is usually expressed in the form of various legal rights and duties). (The remainder of this article requires the reader to be already familiar with the contents of the separate article on state law .) Criminal law involves the prosecution by the state of wrongful acts which are considered to be so serious that they are a breach of the sovereign's peace (and cannot be deterred or remedied by mere lawsuits between private parties). Generally, crimes can result in incarceration , but torts (see below) cannot. The majority of
9396-504: The American Political Science Association , only about 40 seats, less than 10% of the House membership, are chosen through a genuinely contested electoral process, given partisan gerrymandering. Article I, Section 2 of the Constitution sets three qualifications for representatives. Each representative must: (1) be at least twenty-five (25) years old; (2) have been a citizen of the United States for
9570-620: The California constitutional convention was already complaining: "Now, when we require them to state the reasons for a decision, we do not mean they shall write a hundred pages of detail. We [do] not mean that they shall include the small cases, and impose on the country all this fine judicial literature, for the Lord knows we have got enough of that already." Today, in the words of Stanford law professor Lawrence M. Friedman : "American cases rarely cite foreign materials. Courts occasionally cite
9744-822: The District of Columbia and the U.S. territories of Guam , the U.S. Virgin Islands , the Commonwealth of the Northern Mariana Islands , and American Samoa . A non-voting Resident Commissioner, serving a four-year term, represents the Commonwealth of Puerto Rico . As of the 2020 census , the largest delegation was California , with 52 representatives. Six states have only one representative apiece : Alaska , Delaware , North Dakota , South Dakota , Vermont , and Wyoming . The House meets in
9918-452: The Erie doctrine is that federal courts cannot dictate the content of state law when there is no federal issue (and thus no federal supremacy issue) in a case. When hearing claims under state law pursuant to diversity jurisdiction , federal trial courts must apply the statutory and decisional law of the state in which they sit, as if they were a court of that state, even if they believe that
10092-486: The Federal Arbitration Act (which has been interpreted to cover all contracts arising under federal or state law), arbitration clauses are generally enforceable unless the party resisting arbitration can show unconscionability or fraud or something else which undermines the entire contract. Tort law generally covers any civil action between private parties arising from wrongful acts that amount to
10266-742: The Federal Employees Health Benefits Program (FEHBP), an employer-sponsored health insurance program, and were eligible to participate in other programs, such as the Federal Flexible Spending Account Program (FSAFEDS). However, Section 1312(d)(3)(D) of the Patient Protection and Affordable Care Act (ACA) provided that the only health plans that the federal government can make available to members of Congress and certain congressional staff are those created under
10440-459: The House ) and more commonly called Sarbanes–Oxley , SOX or Sarbox , contains eleven sections that place requirements on all U.S. public company boards of directors and management and public accounting firms. A number of provisions of the Act also apply to privately held companies , such as the willful destruction of evidence to impede a federal investigation. The law was enacted as
10614-484: The Judiciary Acts ), and the beginning of regular verbatim publication of U.S. appellate decisions by West Publishing . The rule gradually developed, case-by-case, as an extension of the judiciary's public policy of effective judicial administration (that is, in order to efficiently exercise the judicial power). The rule of binding precedent is generally justified today as a matter of public policy, first, as
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#173278293694710788-977: The Securities and Exchange Commission (SEC) to implement rulings on requirements to comply with the law. Harvey Pitt , the 26th chairman of the SEC, led the SEC in the adoption of dozens of rules to implement the Sarbanes–Oxley Act. It created a new, quasi-public agency, the Public Company Accounting Oversight Board , or PCAOB, charged with overseeing, regulating, inspecting, and disciplining accounting firms in their roles as auditors of public companies. The act also covers issues such as auditor independence, corporate governance , internal control assessment, and enhanced financial disclosure. The nonprofit arm of Financial Executives International , Financial Executives Research Foundation, completed extensive research studies to help support
10962-641: The Senate Banking Committee with the support of President George W. Bush and the SEC. At the time, however, the Chairman of that Committee, Senator Paul Sarbanes (D-MD), was preparing his own proposal, Senate Bill 2673. Senator Sarbanes's bill passed the Senate Banking Committee on June 18, 2002, by a vote of 17 to 4. On June 25, 2002, WorldCom revealed it had overstated its earnings by more than $ 3.8 billion during
11136-475: The Senate being the upper chamber . Together, they compose the national bicameral legislature of the United States . The House is charged with the passage of federal legislation , known as bills ; those that are also passed by the Senate are sent to the president for signature or veto . The House's exclusive powers include initiating all revenue bills, impeaching federal officers, and electing
11310-650: The Twenty-seventh Amendment to the United States Constitution prohibits a change in salary (but not COLA ) from taking effect until after the next election of the whole House. Representatives are eligible for retirement benefits after serving for five years. Outside pay is limited to 15% of congressional pay, and certain types of income involving a fiduciary responsibility or personal endorsement are prohibited. Salaries are not for life, only during active term. Representatives use
11484-450: The Uniform Congressional District Act , sit in single member congressional districts allocated to each state on the basis of population as measured by the United States census , with each district having at least a single representative, provided that that state is entitled to them. Since its inception in 1789, all representatives have been directly elected. Although suffrage was initially limited, it gradually widened, particularly after
11658-425: The United States comprises many levels of codified and uncodified forms of law , of which the supreme law is the nation's Constitution , which prescribes the foundation of the federal government of the United States, as well as various civil liberties . The Constitution sets out the boundaries of federal law, which consists of Acts of Congress , treaties ratified by the Senate , regulations promulgated by
11832-411: The executive branch , and case law originating from the federal judiciary . The United States Code is the official compilation and codification of general and permanent federal statutory law. The Constitution provides that it, as well as federal laws and treaties that are made pursuant to it, preempt conflicting state and territorial laws in the 50 U.S. states and in the territories. However,
12006-538: The military , money , foreign relations (especially international treaties), tariffs , intellectual property (specifically patents and copyrights ), and mail . Since the start of the 20th century, broad interpretations of the Commerce and Spending Clauses of the Constitution have enabled federal law to expand into areas like aviation , telecommunications , railroads , pharmaceuticals , antitrust , and trademarks . In some areas, like aviation and railroads,
12180-694: The president if a presidential candidate fails to get a majority of the Electoral College votes. Both House and Senate confirmation is now required to fill a vacancy if the vice presidency is vacant, according to the provisions of the Twenty-fifth Amendment . The Senate and House are further differentiated by term lengths and the number of districts represented: the Senate has longer terms of six years, fewer members (currently one hundred, two for each state), and (in all but seven delegations) larger constituencies per member. The Senate
12354-399: The rule of law . The contemporary form of the rule is descended from Justice Louis Brandeis 's "landmark dissent in 1932's Burnet v. Coronado Oil & Gas Co .", which "catalogued the Court's actual overruling practices in such a powerful manner that his attendant stare decisis analysis immediately assumed canonical authority." Here is a typical exposition of how public policy supports
12528-556: The size of the House states: "The Number of Representatives shall not exceed one for every thirty Thousand, but each State shall have at Least one Representative." Congress regularly increased the size of the House to account for population growth until it fixed the number of voting House members at 435 in 1911. In 1959, upon the admission of Alaska and Hawaii , the number was temporarily increased to 437 (seating one representative from each of those states without changing existing apportionment), and returned to 435 four years later, after
12702-594: The ACA or offered through a health care exchange . The Office of Personnel Management promulgated a final rule to comply with Section 1312(d)(3)(D). Under the rule, effective January 1, 2014, members and designated staff are no longer able to purchase FEHBP plans as active employees. However, if members enroll in a health plan offered through a Small Business Health Options Program (SHOP) exchange, they remain eligible for an employer contribution toward coverage, and members and designated staff eligible for retirement may enroll in
12876-434: The Act mandates a set of internal procedures designed to ensure accurate financial disclosure. The signing officers must certify that they are "responsible for establishing and maintaining internal controls " and "have designed such internal controls to ensure that material information relating to the company and its consolidated subsidiaries is made known to such officers by others within those entities, particularly during
13050-744: The COSO Report. The cost of complying with SOX 404 impacts smaller companies disproportionately, as there is a significant fixed cost involved in completing the assessment. For example, during 2004 U.S. companies with revenues exceeding $ 5 billion spent 0.06% of revenue on SOX compliance, while companies with less than $ 100 million in revenue spent 2.55%. This disparity is a focal point of 2007 SEC and U.S. Senate action. The PCAOB intends to issue further guidance to help companies scale their assessment based on company size and complexity during 2007. The SEC issued their guidance to management in June, 2007. After
13224-485: The Commission shall prescribe as necessary and appropriate in the public interest or for the protection of investors, for any officer or director of an issuer, or any other person acting under the direction thereof, to take any action to fraudulently influence, coerce, manipulate, or mislead any independent public or certified accountant engaged in the performance of an audit of the financial statements of that issuer for
13398-564: The Confederation Congress's sanction to "amend the Articles of Confederation". All states except Rhode Island agreed to send delegates. Congress's structure was a contentious issue among the founders during the convention. Edmund Randolph 's Virginia Plan called for a bicameral Congress: the lower house would be "of the people", elected directly by the people of the United States and representing public opinion , and
13572-608: The Contract did not pass Congress, were vetoed by President Bill Clinton , or were substantially altered in negotiations with Clinton. However, after Republicans held control in the 1996 election , Clinton and the Gingrich-led House agreed on the first balanced federal budget in decades, along with a substantial tax cut. The Republicans held on to the House until 2006 , when the Democrats won control and Nancy Pelosi
13746-700: The Federal Long Term Care Insurance Program. The Office of the Attending Physician at the U.S. Capitol provides members with health care for an annual fee. The attending physician provides routine exams, consultations, and certain diagnostics, and may write prescriptions (although the office does not dispense them). The office does not provide vision or dental care. Members (but not their dependents, and not former members) may also receive medical and emergency dental care at military treatment facilities. There
13920-462: The House and are separate individuals from their official delegates. Representatives and delegates serve for two-year terms, while a resident commissioner (a kind of delegate) serves for four years. A term starts on January 3 following the election in November. The U.S. Constitution requires that vacancies in the House be filled with a special election. The term of the replacement member expires on
14094-409: The House would have women-only spaces following the election of Sarah McBride . Under Article I, Section 2 of the Constitution , seats in the House of Representatives are apportioned among the states by population, as determined by the census conducted every ten years. Each state is entitled to at least one representative, however small its population. The only constitutional rule relating to
14268-522: The Occupational Safety and Health Administration at the U.S. Department of Labor. OSHA will perform an investigation and if they conclude that the employer violated SOX, OSHA can order preliminary reinstatement. OSHA is required to dismiss the complaint if the complaint fails to make a prima facie showing that the protected activity was a "contributing factor" in the adverse employment action. United States federal law The law of
14442-470: The SEC and PCAOB issued their guidance, the SEC required smaller public companies (non-accelerated filers) with fiscal years ending after December 15, 2007 to document a Management Assessment of their Internal Controls over Financial Reporting (ICFR). Outside auditors of non-accelerated filers however opine or test internal controls under PCAOB (Public Company Accounting Oversight Board) Auditing Standards for years ending after December 15, 2008. Another extension
14616-512: The Sarbanes–Oxley Act, also known as the whistleblower-protection provision, prohibits any "officer, employee, contractor, subcontractor, or agent" of a publicly traded company from retaliating against "an employee" for disclosing reasonably perceived potential or actual violations of the six enumerated categories of protected conduct in Section 806 (securities fraud which includes insider trading and market manipulation, shareholder fraud, bank fraud,
14790-653: The Senate did not hold the balance of power between North and South during the war. The years of Reconstruction that followed witnessed large majorities for the Republican Party , which many Americans associated with the Union's victory in the Civil War and the ending of slavery. The Reconstruction period ended in about 1877; the ensuing era, known as the Gilded Age , was marked by sharp political divisions in
14964-403: The U.S. is different on firms from developed and well regulated countries than on firms from less developed countries according to Kate Litvak. Companies from badly regulated countries see benefits that are higher than the costs from better credit ratings by complying to regulations in a highly regulated country (USA), but companies from developed countries only incur the costs, since transparency
15138-523: The US House of Representatives is older than comparable chambers in Russia and the other G7 nations. Members of Congress are permitted to deduct up to $ 3,000 of living expenses per year incurred while living away from their district or home state. Before 2014, members of Congress and their staff had access to essentially the same health benefits as federal civil servants; they could voluntarily enroll in
15312-466: The United Kingdom lacked a coherent court hierarchy prior to the end of the 19th century. Furthermore, English judges in the eighteenth century subscribed to now-obsolete natural law theories of law, by which law was believed to have an existence independent of what individual judges said. Judges saw themselves as merely declaring the law which had always theoretically existed, and not as making
15486-542: The ability of a small number of senior members to obstruct legislation they did not favor. There was also a shift from the 1990s to greater control of the legislative program by the majority party; the power of party leaders (especially the speaker) grew considerably. According to historian Julian E. Zelizer , the majority Democrats minimized the number of staff positions available to the minority Republicans, kept them out of decision-making, and gerrymandered their home districts. Republican Newt Gingrich argued American democracy
15660-601: The accuracy of corporate financial statements. The bill was enacted as a reaction to a number of major corporate and accounting scandals , including those affecting Enron , Tyco International , Adelphia , Peregrine Systems , and WorldCom . These scandals cost investors billions of dollars when the share prices of affected companies collapsed, and shook public confidence in the US securities markets . The act contains eleven titles, or sections, ranging from additional corporate board responsibilities to criminal penalties, and requires
15834-461: The adequacy of a company's internal control on financial reporting, is often singled out for analysis. According to a 2019 study in the Journal of Law and Economics , "We find a large decline in the average voting premium of US dual-class firms targeted by major SOX provisions that enhance boards' independence, improve internal controls, and increase litigation risks. The targeted firms also improve
16008-406: The average American citizen is subject to the rules and regulations of several dozen different agencies at the federal, state, and local levels, depending upon one's current location and behavior. American lawyers draw a fundamental distinction between procedural law (which controls the procedure by which legal rights and duties are vindicated) and substantive law (the actual substance of law, which
16182-405: The charges. For public welfare offenses where the state is punishing merely risky (as opposed to injurious) behavior, there is significant diversity across the various states. For example, punishments for drunk driving varied greatly prior to 1990. State laws dealing with drug crimes still vary widely, with some states treating possession of small amounts of drugs as a misdemeanor offense or as
16356-473: The class. Another unique feature is the so-called American Rule under which parties generally bear their own attorneys' fees (as opposed to the English Rule of "loser pays"), though American legislators and courts have carved out numerous exceptions. Contract law covers obligations established by agreement (express or implied) between private parties. Generally, contract law in transactions involving
16530-405: The common law legal tradition of English law. Certain practices traditionally allowed under English common law were expressly outlawed by the Constitution, such as bills of attainder and general search warrants. As common law courts, U.S. courts have inherited the principle of stare decisis . American judges, like common law judges elsewhere, not only apply the law, they also make the law, to
16704-464: The compliance project requires a triangulation of the resources of three executives, the CEO, CFO, and CIO and is usually facilitated by the project management office (PMO). The success of the compliance project depends on the proper “mapping” of information systems controls CoBIT (Control Objectives of Information and Its related Technology) to existing and new financial and operational controls as defined by
16878-466: The conditions and culture in which a series of large corporate frauds occurred between 2000 and 2002. The spectacular, highly publicized frauds at Enron , WorldCom , and Tyco exposed significant problems with conflicts of interest and incentive compensation practices. The analysis of their complex and contentious root causes contributed to the passage of SOX in 2002. In a 2004 interview, Senator Paul Sarbanes stated: The Senate Banking Committee undertook
17052-535: The conference committee strengthened the prescriptions of S. 2673 or added new prescriptions." The Committee approved the final conference bill on July 24, 2002, and gave it the name "the Sarbanes–Oxley Act of 2002". The next day, both houses of Congress voted on it without change, producing an overwhelming margin of victory: 423 to 3 in the House; and 99 to 0 in the Senate. On July 30, 2002, President George W. Bush signed it into law, stating it included "the most far-reaching reforms of American business practices since
17226-460: The courts' decisions establish doctrines that were not considered by the texts' drafters. This trend has been strongly evident in federal substantive due process and Commerce Clause decisions. Originalists and political conservatives, such as Associate Justice Antonin Scalia have criticized this trend as anti-democratic. Under the doctrine of Erie Railroad Co. v. Tompkins (1938), there
17400-542: The crimes committed in the United States are prosecuted and punished at the state level. Federal criminal law focuses on areas specifically relevant to the federal government like evading payment of federal income tax, mail theft, or physical attacks on federal officials, as well as interstate crimes like drug trafficking and wire fraud. All states have somewhat similar laws in regard to "higher crimes" (or felonies ), such as murder and rape , although penalties for these crimes may vary from state to state. Capital punishment
17574-524: The date that the original member's would have expired. The Constitution permits the House to expel a member with a two-thirds vote. In the history of the United States, only six members have been expelled from the House; in 1861, three were removed for supporting the Confederate states' secession: Democrats John Bullock Clark of Missouri, John William Reid of Missouri, and Henry Cornelius Burnett of Kentucky. Democrat Michael Myers of Pennsylvania
17748-516: The disclosure of all material off-balance sheet items. It also required an SEC study and report to better understand the extent of usage of such instruments and whether accounting principles adequately addressed these instruments; the SEC report was issued June 15, 2005. Interim guidance was issued in May 2006, which was later finalized. Critics argued the SEC did not take adequate steps to regulate and monitor this activity. The most contentious aspect of SOX
17922-489: The efficiency of investment, cash management, and chief executive officers' compensation relative to firms not targeted by SOX. Overall, the evidence suggests that SOX is effective in curbing the private benefits of control." Some have asserted that Sarbanes–Oxley legislation has helped displace business from New York to London, where the Financial Conduct Authority regulates the financial sector with
18096-432: The electorate. The Democratic Party and Republican Party each held majorities in the House at various times. The late 19th and early 20th centuries also saw a dramatic increase in the power of the speaker of the House . The rise of the speaker's influence began in the 1890s, during the tenure of Republican Thomas Brackett Reed . "Czar Reed", as he was nicknamed, attempted to put into effect his view that "The best system
18270-663: The end of the most recent fiscal year of the Company , of the effectiveness of the internal control structure and procedures of the issuer for financial reporting". To do this, managers are generally adopting an internal control framework such as that described in COSO . To help alleviate the high costs of compliance, guidance and practice have continued to evolve. The Public Company Accounting Oversight Board (PCAOB) approved Auditing Standard No. 5 for public accounting firms on July 25, 2007. This standard superseded Auditing Standard No. 2,
18444-562: The exact order that they have been enacted. Public laws are incorporated into the United States Code , which is a codification of all general and permanent laws of the United States. The main edition is published every six years by the Office of the Law Revision Counsel of the House of Representatives , and cumulative supplements are published annually. The U.S. Code is arranged by subject matter, and it shows
18618-427: The expected rate of full and accurate disclosure under Section 302 will range between 8 and 15 percent. A full 9 out of every 10 companies with ineffective Section 404 controls self reported effective Section 302 controls in the same period end that an adverse Section 404 was reported, 90% in accurate without a Section 404 audit. a. Rules To Prohibit. It shall be unlawful, in contravention of such rules or regulations as
18792-412: The extent that their decisions in the cases before them become precedent for decisions in future cases. The actual substance of English law was formally "received" into the United States in several ways. First, all U.S. states except Louisiana have enacted " reception statutes " which generally state that the common law of England (particularly judge-made law) is the law of the state to the extent that it
18966-527: The federal Constitution and the federal Judiciary Acts. However, it is universally accepted that the Founding Fathers of the United States , by vesting "judicial power" into the Supreme Court and the inferior federal courts in Article Three of the United States Constitution , thereby vested in them the implied judicial power of common law courts to formulate persuasive precedent ; this power
19140-444: The federal Constitution as long as they do not infringe on any federal constitutional rights. Thus U.S. law (especially the actual "living law" of contract , tort , property , probate , criminal and family law , experienced by citizens on a day-to-day basis) consists primarily of state law , which, while sometimes harmonized, can and does vary greatly from one state to the next. Even in areas governed by federal law, state law
19314-450: The federal Senate. Normally, state supreme courts are the final interpreters of state constitutions and state law, unless their interpretation itself presents a federal issue, in which case a decision may be appealed to the U.S. Supreme Court by way of a petition for writ of certiorari . State laws have dramatically diverged in the centuries since independence, to the extent that the United States cannot be regarded as one legal system as to
19488-439: The federal government has developed a comprehensive scheme that preempts virtually all state law, while in others, like family law, a relatively small number of federal statutes (generally covering interstate and international situations) interacts with a much larger body of state law. In areas like antitrust, trademark, and employment law , there are powerful laws at both the federal and state levels that coexist with each other. In
19662-484: The first Tuesday after the first Monday in November. Pursuant to the Uniform Congressional District Act , representatives must be elected from single-member districts . After a census is taken (in a year ending in 0), the year ending in 2 is the first year in which elections for U.S. House districts are based on that census (with the Congress based on those districts starting its term on the following January 3). As there
19836-402: The foundations of the act. The act was approved in the House by a vote of 423 in favor, 3 opposed, and 8 abstaining and in the Senate with a vote of 99 in favor and 1 abstaining . President George W. Bush signed it into law, stating it included "the most far-reaching reforms of American business practices since the time of Franklin D. Roosevelt . The era of low standards and false profits
20010-444: The framework became known, was the first-ever attempt in corporate America to establish a universal definition of Internal Controls, along with proposed guidelines for governance, independence and quality assurance. The initial implementation of a SOX compliance project is complex and burdensome on public companies planning to list or maintaining its listing. Full compliance requires an integrated enterprise-wide initiative. The success of
20184-555: The future. On September 15, 2010 the SEC issued final rule 33–9142 the permanently exempts registrants that are neither accelerated nor large accelerated filers as defined by Rule 12b-2 of the Securities and Exchange Act of 1934 from Section 404(b) internal control audit requirement. Section 802(a) of the SOX, 18 U.S.C. § 1519 states: Whoever knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes
20358-522: The incremental costs associated with SOX compliance. The screening of smaller firms with weaker governance attributes from U.S. exchanges is consistent with the heightened governance costs imposed by the Act increasing the bonding-related benefits of a U.S. listing. Under Sarbanes–Oxley, two separate sections came into effect—one civil and the other criminal. 15 U.S.C. § 7241 (Section 302) (civil provision); 18 U.S.C. § 1350 (Section 906) (criminal provision). Section 302 of
20532-539: The incumbent or the result of bargaining in earlier private discussions. Exceptions can result in so-called floor fights—convention votes by delegates, with outcomes that can be hard to predict. Especially if a convention is closely divided, a losing candidate may contend further by meeting the conditions for a primary election. The courts generally do not consider ballot access rules for independent and third party candidates to be additional qualifications for holding office and no federal statutes regulate ballot access. As
20706-439: The influential Rules Committee and the ability to appoint members of other House committees. However, these powers were curtailed in the "Revolution of 1910" because of the efforts of Democrats and dissatisfied Republicans who opposed Cannon's heavy-handed tactics. The Democratic Party dominated the House of Representatives during the administration of President Franklin D. Roosevelt (1933–1945), often winning over two-thirds of
20880-650: The initial guidance provided in 2004. The SEC also released its interpretive guidance on June 27, 2007. It is generally consistent with the PCAOB's guidance, but intended to provide guidance for management. Both management and the external auditor are responsible for performing their assessment in the context of a top-down risk assessment , which requires management to base both the scope of its assessment and evidence gathered on risk. This gives management wider discretion in its assessment approach. These two standards together require management to: SOX 404 compliance costs represent
21054-493: The intention of Sec. 302 in Final Rule 33–8124. In it, the SEC defines the new term " disclosure controls and procedures," which are distinct from " internal controls over financial reporting ". Under both Section 302 and Section 404, Congress directed the SEC to promulgate regulations enforcing these provisions. External auditors are required to issue an opinion on whether effective internal control over financial reporting
21228-409: The issue, but has signaled in dicta that it sides with this rule. Therefore, in those states, there is only one federal court that binds all state courts as to the interpretation of federal law and the federal Constitution: the U.S. Supreme Court itself. The fifty American states are separate sovereigns , with their own state constitutions , state governments , and state courts . All states have
21402-573: The land gained during the Mexican–American War . Conflict over slavery and other issues persisted until the Civil War (1861–1865), which began soon after several southern states attempted to secede from the Union. The war culminated in the South's defeat and in the abolition of slavery. All southern senators except Andrew Johnson resigned their seats at the beginning of the war, and therefore
21576-433: The latter are able to do in the absence of constitutional or statutory provisions replacing the common law. Only in a few narrow limited areas, like maritime law, has the Constitution expressly authorized the continuation of English common law at the federal level (meaning that in those areas federal courts can continue to make law as they see fit, subject to the limitations of stare decisis ). The other major implication of
21750-428: The law. Therefore, a judge could reject another judge's opinion as simply an incorrect statement of the law, in the way that scientists regularly reject each other's conclusions as incorrect statements of the laws of science. In turn, according to Kozinski's analysis, the contemporary rule of binding precedent became possible in the U.S. in the nineteenth century only after the creation of a clear court hierarchy (under
21924-568: The listing preferences of large foreign firms choosing between U.S. exchanges and the LSE's Main Market did not change following SOX. In contrast, they find that the likelihood of a U.S. listing among small foreign firms choosing between the Nasdaq and LSE's Alternative Investment Market decreased following SOX. The negative effect among small firms is consistent with these companies being less able to absorb
22098-1139: The majority of types of law traditionally under state control, but must be regarded as 50 separate systems of tort law, family law, property law, contract law, criminal law, and so on. Most cases are litigated in state courts and involve claims and defenses under state laws. In a 2018 report, the National Center for State Courts ' Court Statistics Project found that state trial courts received 83.8 million newly filed cases in 2018, which consisted of 44.4 million traffic cases, 17.0 million criminal cases, 16.4 million civil cases, 4.7 million domestic relations cases, and 1.2 million juvenile cases. In 2018, state appellate courts received 234,000 new cases. By way of comparison, all federal district courts in 2016 together received only about 274,552 new civil cases, 79,787 new criminal cases, and 833,515 bankruptcy cases, while federal appellate courts received 53,649 new cases. States have delegated lawmaking powers to thousands of agencies , townships , counties , cities , and special districts . And all
22272-522: The measure said that SOX has been a "godsend" for improving the confidence of fund managers and other investors with regard to the veracity of corporate financial statements. The 10th anniversary of SOX coincided with the passing of the Jumpstart Our Business Startups (JOBS) Act , designed to give emerging companies an economic boost, and cutting back on a number of regulatory requirements. A variety of complex factors created
22446-462: The mid-19th century. Lawyers and judges used English legal materials to fill the gap. Citations to English decisions gradually disappeared during the 19th century as American courts developed their own principles to resolve the legal problems of the American people. The number of published volumes of American reports soared from eighteen in 1810 to over 8,000 by 1910. By 1879 one of the delegates to
22620-542: The most famous is the Miranda warning . The writ of habeas corpus is often used by suspects and convicts to challenge their detention, while the Third Enforcement Act and Bivens actions are used by suspects to recover tort damages for police brutality. The law of civil procedure governs process in all judicial proceedings involving lawsuits between private parties. Traditional common law pleading
22794-664: The most significant states that have not adopted the FRCP. Furthermore, all three states continue to maintain most of their civil procedure laws in the form of codified statutes enacted by the state legislature, as opposed to court rules promulgated by the state supreme court, on the ground that the latter are undemocratic. But certain key portions of their civil procedure laws have been modified by their legislatures to bring them closer to federal civil procedure. Generally, American civil procedure has several notable features, including extensive pretrial discovery , heavy reliance on live testimony obtained at deposition or elicited in front of
22968-678: The most voting members. Under the Articles of Confederation , the Congress of the Confederation was a unicameral body with equal representation for each state, any of which could veto most actions. After eight years of a more limited confederal government under the Articles, numerous political leaders such as James Madison and Alexander Hamilton initiated the Constitutional Convention in 1787, which received
23142-525: The other (the Senate) would provide equal representation amongst the states. The Constitution was ratified by the requisite number of states (nine out of the 13) in 1788, but its implementation was set for March 4, 1789. The House began work on April 1, 1789, when it achieved a quorum for the first time. During the first half of the 19th century, the House was frequently in conflict with the Senate over regionally divisive issues, including slavery . The North
23316-402: The outside auditor assessment until fiscal years ending after June 15, 2010. The SEC stated in their release that the extension was granted so that the SEC's Office of Economic Analysis could complete a study of whether additional guidance provided to company managers and auditors in 2007 was effective in reducing the costs of compliance. They also stated that there will be no further extensions in
23490-480: The past five quarters (15 months), primarily by improperly accounting for its operating costs. Senator Sarbanes introduced Senate Bill 2673 to the full Senate that same day, and it passed 97–0 less than three weeks later on July 15, 2002. The House and the Senate formed a Conference Committee to reconcile the differences between Sen. Sarbanes's bill (S. 2673) and Rep. Oxley's bill (H.R. 3763). The conference committee relied heavily on S. 2673 and "most changes made by
23664-427: The past seven years; and (3) be (at the time of the election) an inhabitant of the state they represent. Members are not required to live in the districts they represent, but they traditionally do. The age and citizenship qualifications for representatives are less than those for senators . The constitutional requirements of Article I, Section 2 for election to Congress are the maximum requirements that can be imposed on
23838-458: The perceived benefits and costs of SOX. Opponents of the bill have claimed it has reduced America's international competitive edge because it has introduced an overly complex regulatory environment into US financial markets. A study commissioned by then New York City Mayor Michael Bloomberg and New York Senator Chuck Schumer cited this as one reason America's financial sector is losing market share to other financial centers worldwide. Proponents of
24012-416: The perennial inability of legislatures in the U.S. to enact statutes that would actually force law enforcement officers to respect the constitutional rights of criminal suspects and convicts, the federal judiciary gradually developed the exclusionary rule as a method to enforce such rights. In turn, the exclusionary rule spawned a family of judge-made remedies for the abuse of law enforcement powers, of which
24186-415: The period in which the periodic reports are being prepared". 15 U.S.C. § 7241(a)(4) . The officers must "have evaluated the effectiveness of the company 's internal controls as of a date within 90 days prior to the report" and "have presented in the report their conclusions about the effectiveness of their internal controls based on their evaluation as of that date". Id. . The SEC interpreted
24360-629: The prefix " The Honorable " before their names. A member of the House is referred to as a representative , congressman , or congresswoman . Representatives are usually identified in the media and other sources by party and state, and sometimes by congressional district, or a major city or community within their district. For example, Democratic representative Nancy Pelosi , who represents California's 11th congressional district within San Francisco , may be identified as "D–California", "D–California–11" or "D–San Francisco". "Member of congress"
24534-591: The presence of reception statutes, much of contemporary American common law has diverged significantly from English common law. Although the courts of the various Commonwealth nations are often influenced by each other's rulings, American courts rarely follow post-Revolution precedents from England or the British Commonwealth. Early on, American courts, even after the Revolution, often did cite contemporary English cases, because appellate decisions from many American courts were not regularly reported until
24708-567: The present status of laws (with amendments already incorporated in the text) that have been amended on one or more occasions. Congress often enacts statutes that grant broad rulemaking authority to federal agencies . Often, Congress is simply too gridlocked to draft detailed statutes that explain how the agency should react to every possible situation, or Congress believes the agency's technical specialists are best equipped to deal with particular fact situations as they arise. Therefore, federal agencies are authorized to promulgate regulations. Under
24882-502: The president if no candidate receives a majority of votes in the Electoral College . Members of the House serve a fixed term of two years, with each seat up for election before the start of the next Congress. Special elections also occur when a seat is vacated early enough. The House's composition was established by Article One of the United States Constitution . The House is composed of representatives who, pursuant to
25056-544: The principle of Chevron deference, regulations normally carry the force of law as long as they are based on a reasonable interpretation of the relevant statutes. Regulations are adopted pursuant to the Administrative Procedure Act (APA). Regulations are first proposed and published in the Federal Register (FR or Fed. Reg.) and subject to a public comment period. Eventually, after a period for public comment and revisions based on comments received,
25230-477: The problems: inadequate oversight of accountants, lack of auditor independence, weak corporate governance procedures, stock analysts' conflict of interests, inadequate disclosure provisions, and grossly inadequate funding of the Securities and Exchange Commission. The House passed Rep. Oxley's bill (H.R. 3763) on April 24, 2002, by a vote of 334 to 90. The House then referred the "Corporate and Auditing Accountability, Responsibility, and Transparency Act" or "CAARTA" to
25404-501: The purpose of rendering such financial statements materially misleading. b. Enforcement. In any civil proceeding, the Commission shall have exclusive authority to enforce this section and any rule or regulation issued under this section. c. No Preemption of Other Law. The provisions of subsection (a) shall be in addition to, and shall not supersede or preempt, any other provision of law or any rule or regulation issued thereunder. d. Deadline for Rulemaking. The Commission shall—1. propose
25578-591: The ratification of the Nineteenth Amendment and the civil rights movement . Since 1913, the number of voting representatives has been at 435 pursuant to the Apportionment Act of 1911 . The Reapportionment Act of 1929 capped the size of the House at 435. However, the number was temporarily increased from 1959 until 1963 to 437 following the admissions of Alaska and Hawaii to the Union. In addition, five non-voting delegates represent
25752-510: The reapportionment consequent to the 1960 census . The Constitution does not provide for the representation of the District of Columbia or of territories . The District of Columbia and the territories of Puerto Rico , American Samoa , Guam , the Northern Mariana Islands , and the U.S. Virgin Islands are each represented by one non-voting delegate . Puerto Rico elects a resident commissioner , but other than having
25926-580: The relevant state law is irrational or just bad public policy. Under Erie , such federal deference to state law applies only in one direction: state courts are not bound by federal interpretations of state law. Similarly, state courts are also not bound by most federal interpretations of federal law. In the vast majority of state courts, interpretations of federal law from federal courts of appeals and district courts can be cited as persuasive authority, but state courts are not bound by those interpretations. The U.S. Supreme Court has never squarely addressed
26100-532: The requisite oath to support the Constitution, but later engages in rebellion or aids the enemies of the United States, is disqualified from becoming a representative. This post–Civil War provision was intended to prevent those who sided with the Confederacy from serving. However, disqualified individuals may serve if they gain the consent of two-thirds of both houses of Congress. Elections for representatives are held in every even-numbered year, on Election Day
26274-473: The rest were unpublished and bound only the parties to each case. As federal judge Alex Kozinski has pointed out, binding precedent as we know it today simply did not exist at the time the Constitution was framed. Judicial decisions were not consistently, accurately, and faithfully reported on both sides of the Atlantic (reporters often simply rewrote or failed to publish decisions which they disliked), and
26448-453: The rule of stare decisis . This is where the act of deciding a case becomes a limited form of lawmaking in itself, in that an appellate court's rulings will thereby bind itself and lower courts in future cases (and therefore also implicitly binds all persons within the court's jurisdiction). Prior to a major change to federal court rules in 2007, about one-fifth of federal appellate cases were published and thereby became binding precedents, while
26622-422: The rule of binding precedent in a 2008 majority opinion signed by Justice Breyer : Justice Brandeis once observed that "in most matters it is more important that the applicable rule of law be settled than that it be settled right." Burnet v. Coronado Oil & Gas Co. [...] To overturn a decision settling one such matter simply because we might believe that decision is no longer "right" would inevitably reflect
26796-722: The rules or regulations required by this section, not later than 90 days after the date of enactment of this Act; and 2. issue final rules or regulations required by this section, not later than 270 days after that date of enactment. The bankruptcy of Enron drew attention to off-balance sheet instruments that were used fraudulently. During 2010, the court examiner's review of the Lehman Brothers bankruptcy also brought these instruments back into focus, as Lehman had used an instrument called "Repo 105" to allegedly move assets and debt off-balance sheet to make its financial position look more favorable to investors. Sarbanes–Oxley required
26970-609: The sale of goods has become highly standardized nationwide as a result of the widespread adoption of the Uniform Commercial Code. However, there is still significant diversity in the interpretation of other kinds of contracts, depending upon the extent to which a given state has codified its common law of contracts or adopted portions of the Restatement (Second) of Contracts . Parties are permitted to agree to arbitrate disputes arising from their contracts. Under
27144-409: The same seniority status that the employee would have had, but for the discrimination; (B) the amount of back pay, with interest; and (C) compensation for any special damages sustained as a result of the discrimination, including litigation costs, expert witness fees, and reasonable attorney fees. A claim under the anti-retaliation provision of the Sarbanes–Oxley Act must be filed initially at
27318-464: The scope of federal preemption is limited because the scope of federal power is not universal. In the dual sovereign system of American federalism (actually tripartite because of the presence of Indian reservations ), states are the plenary sovereigns , each with their own constitution , while the federal sovereign possesses only the limited supreme authority enumerated in the Constitution. Indeed, states may grant their citizens broader rights than
27492-431: The seats. Both Democrats and Republicans were in power at various times during the next decade. The Democratic Party maintained control of the House from 1955 until 1995. In the mid-1970s, members passed major reforms that strengthened the power of sub-committees at the expense of committee chairs and allowed party leaders to nominate committee chairs. These actions were taken to undermine the seniority system , and to reduce
27666-664: The south wing of the United States Capitol . The rules of the House generally address a two-party system, with a majority party in government, and a minority party in opposition. The presiding officer is the Speaker of the House , who is elected by the members thereof. Other floor leaders are chosen by the Democratic Caucus or the Republican Conference , depending on whichever party has
27840-448: The state constitutions, statutes and regulations (as well as all the ordinances and regulations promulgated by local entities) are subject to judicial interpretation like their federal counterparts. It is common for residents of major U.S. metropolitan areas to live under six or more layers of special districts as well as a town or city, and a county or township (in addition to the federal and state governments). Thus, at any given time,
28014-721: The support of delegates from large states such as Virginia , Massachusetts , and Pennsylvania , as it called for representation based on population. The smaller states, however, favored the New Jersey Plan , which called for a unicameral Congress with equal representation for the states. Eventually, the Convention reached the Connecticut Compromise or Great Compromise, under which one house of Congress (the House of Representatives) would provide representation proportional to each state's population, whereas
28188-634: The system was, in Gingrich's words, "morally, intellectually and spiritually corrupt". Gingrich followed Wright's successor, Democrat Tom Foley , as speaker after the Republican Revolution of 1994 gave his party control of the House. Gingrich attempted to pass a major legislative program, the Contract with America and made major reforms of the House, notably reducing the tenure of committee chairs to three two-year terms. Many elements of
28362-424: The time of Franklin D. Roosevelt ". A significant body of academic research and opinion exists regarding the costs and benefits of SOX compliance, with significant differences in conclusions. This is due in part to the difficulty of isolating the impact of SOX from other variables affecting the stock market and corporate earnings. Section 404 of the act, which requires management and the external auditor to report on
28536-410: The vacancy occurs closer to the next general election date than a pre-established deadline. The term of a member chosen in a special election usually begins the next day, or as soon as the results are certified. Historically, many territories have sent non-voting delegates to the House. While their role has fluctuated over the years, today they have many of the same privileges as voting members, have
28710-470: Was being ruined by the Democrats' tactics and that the GOP had to destroy the system before it could be saved. Cooperation in governance, says Zelizer, would have to be put aside until they deposed Speaker Wright and regained power. Gingrich brought an ethics complaint which led to Wright's resignation in 1989. Gingrich gained support from the media and good government forces in his crusade to persuade Americans that
28884-435: Was expelled after his criminal conviction for accepting bribes in 1980, Democrat James Traficant of Ohio was expelled in 2002 following his conviction for corruption, and Republican George Santos was expelled in 2023 after he was implicated in fraud by both a federal indictment and a House Ethics Committee investigation. The House also has the power to formally censure or reprimand its members; censure or reprimand of
29058-501: Was granted by the SEC for the outside auditor assessment until years ending after December 15, 2009. The reason for the timing disparity was to address the House Committee on Small Business concern that the cost of complying with Section 404 of the Sarbanes–Oxley Act of 2002 was still unknown and could therefore be disproportionately high for smaller publicly held companies. On October 2, 2009, the SEC granted another extension for
29232-626: Was maintained in all material respects by management. This is in addition to the financial statement opinion regarding the accuracy of the financial statements. The requirement to issue a third opinion regarding management's assessment was removed in 2007. A Lord & Benoit report, titled Bridging the Sarbanes–Oxley Disclosure Control Gap , was filed with the SEC Subcommittee on internal controls which reported that those companies with ineffective internal controls,
29406-479: Was motivated by fears that courts would impose at-large plurality districts on states that did not redistrict to comply with the new mandates for districts roughly equal in population, and Congress also sought to prevent attempts by southern states to use such voting systems to dilute the vote of racial minorities. Several states have used multi-member districts in the past, although only two states (Hawaii and New Mexico) used multi-member districts in 1967. Louisiana
29580-580: Was much more populous than the South , and therefore dominated the House of Representatives. However, the North held no such advantage in the Senate, where the equal representation of states prevailed. Regional conflict was most pronounced over the issue of slavery. One example of a provision repeatedly supported by the House but blocked by the Senate was the Wilmot Proviso , which sought to ban slavery in
29754-422: Was named after bill sponsors U.S. Senator Paul Sarbanes ( D - MD ) and U.S. Representative Michael G. Oxley ( R - OH ). To be "SOX compliant," top management must individually certify the accuracy of financial information. In addition, penalties for fraudulent financial activity are much more severe. The act increased the oversight role of boards of directors and the independence of the outside auditors who review
29928-616: Was replaced by code pleading in 27 states after New York enacted the Field Code in 1850 and code pleading in turn was subsequently replaced again in most states by modern notice pleading during the 20th century. The old English division between common law and equity courts was abolished in the federal courts by the adoption of the Federal Rules of Civil Procedure in 1938; it has also been independently abolished by legislative acts in nearly all states. The Delaware Court of Chancery
30102-443: Was subsequently elected by the House as the first female speaker. The Republicans retook the House in 2011 , with the largest shift of power since the 1930s. However, the Democrats retook the house in 2019 , which became the largest shift of power to the Democrats since the 1970s. In the 2022 elections, Republicans took back control of the House, winning a slim majority. In November 2024, House Speaker Mike Johnson announced that
30276-516: Was widely accepted, understood, and recognized by the Founding Fathers at the time the Constitution was ratified. Several legal scholars have argued that the federal judicial power to decide " cases or controversies " necessarily includes the power to decide the precedential effect of those cases and controversies. The difficult question is whether federal judicial power extends to formulating binding precedent through strict adherence to
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