US

The under-publicised disgorgement provisions of the Sarbanes-Oxley Act raise the stakes for directors and executive officers

Tom Vita, assisted by associates Steven Azzariti and Patrick Lyons, Norton Rose

Top executives at US and non-US companies whose securities are listed in the United States may soon find themselves writing cheques to their employers. Two provisions of the Sarbanes-Oxley Act of 2002 (the “Act”) – Sections 304 and 306 – will require directors and high level officers to reimburse their companies in certain circumstances.