§ 7242. Improper influence on conduct of audits

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 2002

   Sarbanes-Oxley Act of 2002

   Pub. L. 107–204 title III § 303 · 116 Stat. 745

   Enacted · 15 U.S.C. § 7242

   (Pub. L. 107–204, title III, § 303, July 30, 2002, 116 Stat. 778.)

   Source evidence

   Code source credit
   (Pub. L. 107–204, title III, § 303, July 30, 2002, 116 Stat. 778.)

   Enacted provision · exact public law section
   SEC. 303. IMPROPER INFLUENCE ON CONDUCT OF AUDITS. (a) Rules To Prohibit.— It shall be unlawful, in contravention of such rules or regulations as the Commission shall prescribe as necessary and appropriate in the public interest or for the protection of investors, for any officer or director of an issuer, or any other person acting under the direction thereof, to take any action to fraudulently influence, coerce, manipulate, or mislead any independent public or certified accountant engaged in the performance of an audit of the financial statements of that issuer for the purpose of rendering such financial statements materially misleading. (b) Enforcement.— In any civil proceeding, the Commission shall have exclusive authority to enforce this section and any rule or regulation issued under this section. (c) No Preemption of Other Law.— The provisions of subsection (a) shall be in addition to, and shall not supersede or preempt, any other provision of law or any rule or regulation issued thereunder. (d) Deadline for Rulemaking.— The Commission shall— (1) propose the rules or regulations required by this section, not later than 90 days after the date of enactment of this Act; and (2) issue final rules or regulations required by this section, not later than 270 days after that date of enactment.

1 of 1 references resolved to an enrolled provision