In May $27,2003--$ The Securities and Exchange Commission voted to adopt rules concerning management's report on internal control over financial reporting and certification of disclosures in Exchange Act periodic reports. The Commission also voted to adopt new Rule $3$a$-8$ under the Investment Company Act to provide a nonexclusive safe harbor from the definition of investment company for certain research and development companies. SOX has reformed the governance and accountability framework for corporations wishing to raise funds and have their shares traded on U$.$S$.$ stock markets.

QUESTION $1$: What is this framework?

QUESTION $2$: Who is responsible for implementing it$?$