PROVIDENCE RESOURCES, INC Securities and Exchange Sec Form

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what does the SEC a Securities regulator have to do with corporate [Music] governance you might be thinking corporate governance relates to a company's board of directors or management or it's a matter of state law and you'd be right but there's more to the story when the SEC was formed 90 years ago a lot of things had broken down the stock market of of course had broken down but so had matters regarding corporate governance shortly after the 1929 market crash there was a series of Blockbuster Congressional hearings that uncovered widespread abuses by Executives of big banks at utility companies and investment funds in essence the executives had lined their pockets at you the investors expense and bad corporate governance was part of the problem so short shortly thereafter when Congress created the SEC Congress determined that as part of our role we should play a part in corporate governance now this role would stand alongside the state laws the boards of directors the management over