eliminate
3 weeks ago
I believe the soft reads into the Risk is directly connected to AI Sarbanes-Oxley and AI is naked shorting everything with Market manipulation.
The Sarbanes-Oxley Act (SOX) requires companies to identify, evaluate, and mitigate risks that could affect their financial reporting and internal controls. This process, known as SOX risk assessment, helps companies understand potential vulnerabilities and establish controls to prevent fraud and ensure accurate financial statements.
Key elements of a SOX risk assessment include:
Identifying Risks: This involves pinpointing specific risks that could affect the integrity of financial reporting. These risks can be quantitative or qualitative.
Quantitative Risks: These are measurable risks, such as fraud, financial reporting errors, or broken internal controls.
Qualitative Risks: These are risks that are not statistically quantifiable but can still pose a SOX compliance risk, like regulatory changes, poor leadership, or natural disasters.
Assessing Risk Impact and Likelihood: Companies analyze each identified risk to determine the potential impact it could have and the probability of it occurring.
Prioritizing Risks: Based on the assessment, risks are ranked according to their severity, which helps in prioritizing mitigation efforts.
Developing Mitigation Plans: Strategies are developed to address the identified risks and reduce their potential impact. This can involve implementing new controls, updating existing ones, or changing business processes.
Implementing Controls: Appropriate internal controls are put in place to address the identified risks and ensure the accuracy and reliability of financial reporting.
Monitoring and Updating: Risk assessment and management are ongoing processes. Companies need to continuously monitor their risk landscape, assess new risks, and update their controls accordingly.
The importance of SOX risk assessment:
Enhanced Financial Integrity: By identifying and mitigating risks, companies improve the accuracy and reliability of their financial reporting, which is crucial for maintaining investor trust and market stability.
Improved Internal Controls: Risk assessment helps companies design and implement effective internal controls, which are essential for preventing financial fraud and ensuring compliance with SOX requirements.
Compliance with SOX Mandates: Companies must demonstrate compliance with SOX mandates, including establishing and maintaining effective internal control over financial reporting.
Protection against SOX Violations: Failure to comply with SOX can lead to severe consequences, including legal actions, financial penalties, and reputational damage.
Better Data Handling: SOX risk assessment ensures that companies have secure data handling systems that protect financial information from internal and external tampering.
In essence, SOX risk assessment is a fundamental process that helps companies build a robust internal control system, safeguard financial data, and comply with the regulations designed to prevent corporate fraud and protect investors
eliminate
3 weeks ago
Ensuring SOX compliance is a time- and resource-consuming process, and non-compliance has significant ramifications. While in-house teams once were able to manage compliance processes, conduct internal audits, and ensure adherence to regulatory requirements, many companies now require more consultative support from technical resources even as they struggle against the rising cost of their SOX programs.
Gary Gensler,
Currently, he is serving as a Professor of the Practice in the Global Economics and Management Group and the Finance Group at the MIT Sloan School of Management. He previously held this position before his appointment to the SEC.
At MIT, he is focusing on the intersection of finance and technology, including research and teaching on areas like blockchain technology, digital currencies, financial technology, and public policy. He is also the co-director of the FinTechAI@CSAIL initiative at MIT's Computer Science and Artificial Intelligence Laboratory (CSAIL).
Addressing these realities can be expensive, especially if your organization lacks a comprehensive governance, risk, and compliance (GRC) platformβa costly proposition in and of itself.
I-Glow
5 months ago
Noch is a shell hijacker and self promoter - here is an example:
"Charlestown, St. Kitts & Nevis, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Jake P. Noch Family Office, LLC. is pleased to announce a landmark legal victory with the approval of its amended motion for final default judgment by the County Court for the Twentieth Judicial Circuit in Collier County, Florida. This decision marks a transformative milestone for Alaska Pacific Energy Corp. (OTC: ASKE), paving the way for compliance, strategic growth, and enhanced shareholder value."
Oh, no look what I found:
"Alaska Pacific Energy Corp.
Common Stock
Expert Market
Dark or Defunct"
That didn't workout very well.
"Miami, FL, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Baron Capital Enterprise, Inc. (OTC: BCAP) is pleased to announce the court-ordered appointment of Jake P. Noch as Chief Executive Officer (CEO), Chairman of the Board (COB), and Court-Ordered Custodian, effective August 23, 2024. This leadership change marks the start of an ambitious strategy aimed at restoring the companyβs regulatory compliance, rebranding its identity, and positioning it for substantial growth and long-term success."
Another OTC scam as BCAP is at $0.0001 and no volume.
Noch you are headed to prison.
IG
I-Glow
5 months ago
Hey Noch, what kind of scam are you trying to do.
Your recommendations to the SEC are so absurd - you want the OTC to operate in complete darkness.
"Caveat Emptor:
? The "Caveat Emptor" flag is among the most arbitrary, often assigned clear criteria. The symbolβa skull and crossbonesβcan have a devastating impact on a securityβs liquidity and reputation, often leading to a significant
decrease in market activity. The assignment of this label without a transparent process and without the possibility of appeal is a direct affront to the principles of fair and orderly markets."
Out of 15,000 stocks on the OTC only 742 have a CE - that is 4.9%. And those with a CE deserve it.
"Penny Stock:
? The "Penny Stock" designation is another example of an overly broad and arbitrary classification. While some penny stocks are indeed high-risk, others are legitimate small-cap companies that are unfairly stigmatized by this label, which can lead to reduced investor interest and hinder the companyβs ability to raise capital."
Noch, the SEC defines any stock below $5 as a penny stock.
"Bankruptcy & Delinquency:
? Labels such as "Bankruptcy" and "Delinquency" are particularly detrimental as they often signal financial distress. However, the criteria for these labels are not
always clear, and the labels can remain long after a company has resolved its issues, continuing to harm the issuerβs marketability without justification."
Q stocks have to remain because investors must know that the company has significant financial issues.
You are wanting to keep investors in the dark so you can operate a share selling scheme.
"Reverse Splits & Name Changes:
? The "Reverse Splits" and "Name Changes" categories are often used to flag securities without considering the reasons behind these actions. Companies
frequently undergo reverse splits or name changes as part of legitimate business strategies, but these actions are unfairly penalized by these labels, leading to a negative perception among investors."
On the OTC I have never seen where a reverse split has been good for investors.
All of your proposed changes would only help those operating a share selling scheme.
IG