The Supreme Court has struck down part of the anti-fraud law enacted in response to Enron and other corporate scandals. The justices on Monday in their 5-4 decision say that the Sarbanes-Oxley law enacted in 2002 violates the Constitution’s separation of powers mandate. The court says the president must be able to remove members of the board that was created to tighten oversight of internal corporate controls and outside auditors.

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