Births on February 11

Mike Oxley, American lawyer and politician (d. 2016)

Michael Garver Oxley, born on February 11, 1944, and who passed away on January 1, 2016, was a distinguished American Republican politician and attorney whose extensive career significantly impacted U.S. financial legislation. He is primarily recognized for his dedicated service as a U.S. Representative for Ohio's 4th congressional district, a role he held with distinction for over two decades.

Early Life and Legal Career of Michael G. Oxley

Before his prominent political career, Michael G. Oxley established a strong foundation in the legal field. After earning his law degree, he embarked on a career that included serving as a Special Agent for the Federal Bureau of Investigation (FBI), demonstrating his early commitment to public service and justice. Following his tenure with the FBI, he worked as an Assistant Prosecuting Attorney for Ohio's Crawford County. These experiences as an attorney and law enforcement officer provided him with invaluable insights into legal frameworks and public needs, which would later inform his legislative efforts in Congress.

Congressional Tenure and Legislative Achievements

Michael G. Oxley was first elected to the U.S. House of Representatives in 1981, representing Ohio's 4th congressional district. He served continuously until his retirement in 2007, making him one of the longest-serving members from his state. During his long and influential tenure, Oxley became a key figure in financial policy. He notably chaired the powerful House Financial Services Committee, a position from which he wielded significant influence over banking, housing, and securities legislation.

The Landmark Sarbanes-Oxley Act

Perhaps Michael G. Oxley's most enduring legacy is his role as a principal co-author of the Sarbanes-Oxley Act of 2002 (SOX). This landmark bipartisan federal law, co-sponsored with Senator Paul Sarbanes, was enacted in response to major corporate and accounting scandals of the early 2000s, such as those involving Enron and WorldCom. The primary objective of SOX was to protect investors by improving the accuracy and reliability of financial reporting by public companies. It established rigorous new standards for all U.S. public company boards, management, and public accounting firms, introducing accountability measures that significantly reformed corporate governance. The act, for example, mandated stricter internal controls, independent audit committees, and criminal penalties for corporate fraud, fundamentally reshaping the landscape of corporate financial oversight in the United States.

Legacy and Impact

Michael G. Oxley's career was marked by a commitment to public service and a pragmatic approach to legislation. His work on the Sarbanes-Oxley Act cemented his place in American legislative history, leaving an indelible mark on corporate accountability and investor protection. Even years after its passage, the Sarbanes-Oxley Act remains a cornerstone of U.S. financial regulation, demonstrating the lasting impact of his legislative vision. He retired from Congress having significantly contributed to the financial integrity of the nation.

Frequently Asked Questions about Michael G. Oxley

Who was Michael G. Oxley?

Michael G. Oxley was an American Republican politician and attorney who served as a U.S. Representative for Ohio's 4th congressional district from 1981 to 2007. He is most renowned as the co-author of the landmark Sarbanes-Oxley Act.

What is the Sarbanes-Oxley Act, and why is it important?

The Sarbanes-Oxley Act of 2002 (SOX) is a federal law that established new standards for all U.S. public company boards, management, and public accounting firms. It was enacted in response to major corporate accounting scandals to protect investors by improving the accuracy and reliability of financial reporting. Its importance lies in its role in strengthening corporate governance and accountability.

What congressional district did Michael G. Oxley represent?

He represented Ohio's 4th congressional district during his entire tenure in the U.S. House of Representatives.

When did Michael G. Oxley serve in Congress?

Michael G. Oxley served as a U.S. Representative from 1981 until his retirement in 2007.

What was Michael G. Oxley's profession before entering politics?

Before his political career, Michael G. Oxley was an attorney. His legal experience included serving as a Special Agent for the FBI and as an Assistant Prosecuting Attorney.