A timeline of the top events that made regulators take notice
We have created a timeline to show some of the major events which made the regulators and governments sit up and take notice. As we mentioned earlier, many regulatory developments have been a consequence of real-world incidents or mishaps on a large scale:
- Enron (2001): Enron invested in a new business line of video on demand. Their endeavor guzzled a lot of money and did not give any returns. The company’s management started cooking its books to conceal its losses from this new line of business and started showing yet-to-be-made profits as actuals. In a way, this was a trendsetting example for the 21st century that set the alarm bells ringing for regulators all around the world.
- Worldcom (2002): This was, at the time, the largest corporate scandal in the US. In order to manage stock prices, the company’s CEO led a senior team to overstate the earnings from 1999 to 2002. It was caught by a team...