usually report to the chief executive officer (CEO) and board of directors and/or president of the corporation. This means that as well as being able to understand and communicate the company's financial strategy, they are also able to communicate the broader strategic direction of the corporation and ensure that the image of the corporation is maintained in a cohesive fashion. The president or CEO of the company or corporation would have direct responsibility in relating the company's overall posture directly to the shareholders or the investors. Due to the potential impact of legal liability claims awarded by courts, and the consequential impact on the company's share price, IR often has a role in crisis management of, for example, corporate downsizing, changes in management or internal structure, product liability issues and industrial disasters. The most highly regarded professional member organization for investor relations in the United States is the National Investor Relations Institute, or NIRI. In addition to numerous professional development seminars and meetings, NIRI offers a certification program, the Investor Relations Charter. In the United Kingdom, the recognized industry body is The Investor Relations Society, while in Canada, the professional association is called the Canadian Investor Relations Institute, or CIRI. Australia's professional organization is known as the Australian Investor Relations Association (AIRA). The Sarbanes–Oxley Act The Sarbanes–Oxley Act of 2002 significantly increased the importance of investor relations in the financial markets. The act established new requirements for corporate governance and regulatory compliance, with an increased emphasis on accuracy in auditing and public disclosure. Notable provisions of the act which apply to investor relations include enhanced financial disclosures and accuracy of financial reports, real-time disclosures, off-balance-sheet transaction disclosures, pro forma financial disclosures, management assessment of internal controls, and corporate responsibility for financial reports. More specifically, Sarbanes–Oxley sections 301, 302, 404, and 802 have been of particular interest to companies improving corporate compliance. Similar to Sarbanes–Oxley are the Keeping the Promise for a Strong Economy Act (Budget Measures), 2002 in Canada, Financial Security Law of France in France, and J-SOX in Japan. The European MiFID Directive, although principally concerned with investor protection, also covers regulation and compliance for listed European companies. Controversies Robinhood GameStop incident Robinhood is a popular investing app that launched on April 18, 2013. Gamestop was undergoing a significant short squeeze, sending the stock price sky-high which put pressure on hedge funds and Robinhood's clearing operations. The decision to