Backdating options definition

I appreciate the opportunity to explain the Commission's initiatives to deal with abuses involving the backdating of options.I am especially pleased to testify together with Chairman Mark Olson of the Public Company Accounting Oversight Board. (Stock Exchange) commerce the right to buy (call option) or sell (put option) a fixed quantity of a commodity, security, foreign exchange, etc, at a fixed price at a specified date in the future.

A feature allowing fundholders to use an earlier date on a letter of intent to invest in a mutual fund in exchange for a reduced sales charge. Giving retroactive value to purchases from the earlier date.

Mr Stephen , 24 July 2006 (UTC) The external links: "Background on the Options Backdating Scandal, ISS, retrieved 2006-07-24." "CNBC's Closing Bell interview with CFRA's Marc Siegel May 19, 2006, retrieved 2006-12-27" "Ex-Comverse lawyer settles with SEC for million, retrieved 2007-01-10" are broken.

idfubar (talk) , 14 December 2009 (UTC) "Options backdating is the practice of issuing options contracts on a later date than which the options have listed." This does not seem to clearly define backdating.

I will let Chairman Olson speak to the steps the PCAOB is taking to address these issues from the auditing regulator's perspective, but I'd like to assure the Committee, and the public, that the Commission is working in close cooperation with the PCAOB in this important area. But here is a typical example of what some companies did: They granted an "in-the-money" option-that is, an option with an exercise price lower than that day's market price.

They did this by misrepresenting the date of the option grant, to make it appear that the grant was made on an earlier date when the market value was lower.

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