US legislation enacted in response to the accounting and corporate scandals of 2001–2002, including Enron’s collapse. The Act was named after Senator Paul Sarbanes and Representative Michael Oxley and is arranged in 11 titles. Compliance with provisions of the Act is mandatory. The Sarbanes-Oxley Act of 2002 established the duties of a firm’s board of directors, as well as advising on auditing and other business requirements.
The SOX is generally considered the single most important piece of legislation affecting corporate governance, financial disclosure, and public accounting since the US securities laws enacted in the 1930s. The Act is often referred to variously as SOX, S-O or SOA.
Commodity trading and risk management is a subject that is necessarily complicated, and is becoming more so. The Energy Risk Glossary seeks to disentangle and clarify the jargon by providing definitions of commonly used energy and commodity market terms.
These include definitions related to a variety of underlying energy products, as well as technical terms about the many instruments and benchmarks used by energy market participants.
Many of the most recent terms to have been added to our glossary stem from the actions of regulators since the 2008 global financial crisis. The onset of rules, such as the US Dodd-Frank Act and European Market Infrastructure Regulation, has markedly increased the cost and complexity associated with commodity trading. Perhaps they have also increased the need for a handy reference guide such as this.
The glossary is extensively cross-referenced, making for easy and thorough searches. We hope you find the latest edition of the Energy Risk Glossary to be a useful resource.
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