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Sarbanes-Oxley Kit

Sarbanes-Oxley Act 2002

SARBANES-OXLEY ACT ACT


Sponsor: Rep Oxley, Michael G. (intro 2/14/2002)
Related Bills: H.RES.395, H.R.5070, H.R.5118, S.2673
Became Public Law No: 107-204



CONTENTS:

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
Sec. 1. Short title; table of contents.
Sec. 703. Study and report on violators and violations
Sec. 903. Criminal penalties for mail and wire fraud.

TITLE XI--CORPORATE FRAUD AND ACCOUNTABILITY

Sec. 1105. Authority of the Commission to prohibit persons from serving as officers or directors.
SEC. 2. DEFINITIONS.
SEC. 3. COMMISSION RULES AND ENFORCEMENT.

TITLE I--PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD

SEC. 101. ESTABLISHMENT; ADMINISTRATIVE PROVISIONS.
SEC. 102. REGISTRATION WITH THE BOARD.
SEC. 103. AUDITING, QUALITY CONTROL, AND INDEPENDENCE STANDARDS AND RULES.
SEC. 104. INSPECTIONS OF REGISTERED PUBLIC ACCOUNTING FIRMS.
SEC. 105. INVESTIGATIONS AND DISCIPLINARY PROCEEDINGS.
SEC. 106. FOREIGN PUBLIC ACCOUNTING FIRMS.
SEC. 107. COMMISSION OVERSIGHT OF THE BOARD.
SEC. 108. ACCOUNTING STANDARDS.
SEC. 109. FUNDING.

TITLE II--AUDITOR INDEPENDENCE

SEC. 201. SERVICES OUTSIDE THE SCOPE OF PRACTICE OF AUDITORS.
SEC. 202. PREAPPROVAL REQUIREMENTS.
SEC. 203. AUDIT PARTNER ROTATION.
SEC. 204. AUDITOR REPORTS TO AUDIT COMMITTEES.
SEC. 205. CONFORMING AMENDMENTS.
SEC. 206. CONFLICTS OF INTEREST.
SEC. 207. STUDY OF MANDATORY ROTATION OF REGISTERED PUBLIC ACCOUNTING FIRMS.
SEC. 208. COMMISSION AUTHORITY.
SEC. 209. CONSIDERATIONS BY APPROPRIATE STATE REGULATORY AUTHORITIES.

TITLE III--CORPORATE RESPONSIBILITY

SEC. 301. PUBLIC COMPANY AUDIT COMMITTEES.
SEC. 302. CORPORATE RESPONSIBILITY FOR FINANCIAL REPORTS.
SEC. 303. IMPROPER INFLUENCE ON CONDUCT OF AUDITS.
SEC. 304. FORFEITURE OF CERTAIN BONUSES AND PROFITS.
SEC. 305. OFFICER AND DIRECTOR BARS AND PENALTIES.
SEC. 306. INSIDER TRADES DURING PENSION FUND BLACKOUT PERIODS.
SEC. 307. RULES OF PROFESSIONAL RESPONSIBILITY FOR ATTORNEYS.
SEC. 308. FAIR FUNDS FOR INVESTORS.

TITLE IV--ENHANCED FINANCIAL DISCLOSURES
SEC. 401. DISCLOSURES IN PERIODIC REPORTS.
SEC. 402. ENHANCED CONFLICT OF INTEREST PROVISIONS.
SEC. 403. DISCLOSURES OF TRANSACTIONS INVOLVING MANAGEMENT AND PRINCIPAL STOCKHOLDERS.
`SEC. 16. DIRECTORS, OFFICERS, AND PRINCIPAL STOCKHOLDERS.
SEC. 404. MANAGEMENT ASSESSMENT OF INTERNAL CONTROLS.
SEC. 405. EXEMPTION.
SEC. 406. CODE OF ETHICS FOR SENIOR FINANCIAL OFFICERS.
SEC. 407. DISCLOSURE OF AUDIT COMMITTEE FINANCIAL EXPERT.
SEC. 408. ENHANCED REVIEW OF PERIODIC DISCLOSURES BY ISSUERS.
SEC. 409. REAL TIME ISSUER DISCLOSURES.

TITLE V--ANALYST CONFLICTS OF INTEREST
SEC. 501. TREATMENT OF SECURITIES ANALYSTS BY REGISTERED SECURITIES ASSOCIATIONS AND NATIONAL SECURITIES EXCHANGES.
`SEC. 15D. SECURITIES ANALYSTS AND RESEARCH REPORTS.

TITLE VI--COMMISSION RESOURCES AND AUTHORITY
SEC. 601. AUTHORIZATION OF APPROPRIATIONS.
`SEC. 35. AUTHORIZATION OF APPROPRIATIONS.
SEC. 602. APPEARANCE AND PRACTICE BEFORE THE COMMISSION.
`SEC. 4C. APPEARANCE AND PRACTICE BEFORE THE COMMISSION.
SEC. 603. FEDERAL COURT AUTHORITY TO IMPOSE PENNY STOCK BARS.
SEC. 604. QUALIFICATIONS OF ASSOCIATED PERSONS OF BROKERS AND DEALERS.

TITLE VII--STUDIES AND REPORTS
SEC. 701. GAO STUDY AND REPORT REGARDING CONSOLIDATION OF PUBLIC ACCOUNTING FIRMS.
SEC. 702. COMMISSION STUDY AND REPORT REGARDING CREDIT RATING AGENCIES.
SEC. 703. STUDY AND REPORT ON VIOLATORS AND VIOLATIONS.
SEC. 704. STUDY OF ENFORCEMENT ACTIONS.
SEC. 705. STUDY OF INVESTMENT BANKS.

TITLE VIII--CORPORATE AND CRIMINAL FRAUD ACCOUNTABILITY
SEC. 801. SHORT TITLE.
SEC. 802. CRIMINAL PENALTIES FOR ALTERING DOCUMENTS.
`Sec. 1519. Destruction, alteration, or falsification of records in Federal investigations and bankruptcy
`Sec. 1520. Destruction of corporate audit records
SEC. 803. DEBTS NONDISCHARGEABLE IF INCURRED IN VIOLATION OF SECURITIES FRAUD LAWS.
SEC. 804. STATUTE OF LIMITATIONS FOR SECURITIES FRAUD.
SEC. 805. REVIEW OF FEDERAL SENTENCING GUIDELINES FOR OBSTRUCTION OF JUSTICE AND EXTENSIVE CRIMINAL FRAUD.
SEC. 806. PROTECTION FOR EMPLOYEES OF PUBLICLY TRADED COMPANIES WHO PROVIDE EVIDENCE OF FRAUD.
`Sec. 1514A. Civil action to protect against retaliation in fraud cases
SEC. 807. CRIMINAL PENALTIES FOR DEFRAUDING SHAREHOLDERS OF PUBLICLY TRADED COMPANIES.
`Sec. 1348. Securities fraud

TITLE IX--WHITE-COLLAR CRIME PENALTY ENHANCEMENTS
SEC. 901. SHORT TITLE.
SEC. 902. ATTEMPTS AND CONSPIRACIES TO COMMIT CRIMINAL FRAUD OFFENSES.
`Sec. 1349. Attempt and conspiracy
SEC. 903. CRIMINAL PENALTIES FOR MAIL AND WIRE FRAUD.
SEC. 904. CRIMINAL PENALTIES FOR VIOLATIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974.
SEC. 905. AMENDMENT TO SENTENCING GUIDELINES RELATING TO CERTAIN WHITE-COLLAR OFFENSES.
SEC. 906. CORPORATE RESPONSIBILITY FOR FINANCIAL REPORTS.
`Sec. 1350. Failure of corporate officers to certify financial reports

TITLE X--CORPORATE TAX RETURNS
SEC. 1001. SENSE OF THE SENATE REGARDING THE SIGNING OF CORPORATE TAX RETURNS BY CHIEF EXECUTIVE OFFICERS.

TITLE XI--CORPORATE FRAUD ACCOUNTABILITY
SEC. 1101. SHORT TITLE.
SEC. 1102. TAMPERING WITH A RECORD OR OTHERWISE IMPEDING AN OFFICIAL PROCEEDING.
SEC. 1103. TEMPORARY FREEZE AUTHORITY FOR THE SECURITIES AND EXCHANGE COMMISSION.
SEC. 1104. AMENDMENT TO THE FEDERAL SENTENCING GUIDELINES.
SEC. 1105. AUTHORITY OF THE COMMISSION TO PROHIBIT PERSONS FROM SERVING AS OFFICERS OR DIRECTORS.
SEC. 1106. INCREASED CRIMINAL PENALTIES UNDER SECURITIES EXCHANGE ACT OF 1934.
SEC. 1107. RETALIATION AGAINST INFORMANTS.



OBJECTIVE:
To protect investors by improving the accuracy & reliability of corporate disclosures made pursuant to the securities laws.


Corporate and Auditing Accountability, Responsibility, and Transparency Act of 2002


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