Corporate Fraud Task Force

The Corporate Fraud Task Force was a United States Federal Government-wide task force formed by President George W. Bush in the wake of corporate accounting scandals that shook investor confidence. Task Force establishment occurred through delegated legislation with the issuance of Executive Order 13271 of July 9, 2002, ‘‘Establishment of the Corporate Fraud Task Force’’.

President Bush had remarked in the address announcing the creation of CFTF that...

‘‘We will use the full weight of the law to expose and root out corruption,’’ Bush said on July 9, 2002.‘‘My administration will do everything in our power to end the days of cooking the books, shading the truth and breaking our laws.’’ [1]

According to CNN at the time:

‘‘Bush's speech was designed in part to refute critics who have called him too cozy with Corporate America -- particularly Democrats who, in a congressional election year, seem unlikely to cut him much slack, especially after raising questions about his own past business dealings.’’
‘‘The speech, which the administration had been advertising for weeks in advance, came a day after the president held an impromptu news conference and was forced to defend his sale of stock in Harken Energy 12 years ago.’’

Membership

The following Department officials were standing members of the President's Corporate Fraud Task Force:

The following agency officials made up the membership in the interagency group also within the President's Corporate Fraud Task Force:

Termination

The Corporate Fraud Task Force was terminated on November 17, 2009 by President Barack Obama with the issuance of Executive Order 13519, entitled ‘‘Establishment of the Financial Fraud Enforcement Task Force’’.[2]

References

  1. ↑ President Announces Tough New Enforcement Initiatives for Reform, George W. Bush, Press Release, 9 July 2002.
  2. ↑ Attorney General Eric Holder Announcement, the Financial Fraud Enforcement Task Force Press Conference, 17 November 2009.

External links

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