Law

Sarbanes-Oxley Act of 2002

Section 1 — Short title

Section 2 — Definitions

Section 3 — Commission Rules and Enforcement

TITLE I

PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD

Section 101 — Establishment; Administrative Provisions

Section 102 — Registration with the Board

Section 103 — Auditing, Quality Control, and Independence Standards and Rules

Section 104 — Inspections of Registered Public Accounting Firms

Section 105 — Investigations and Disciplinary Proceedings

Section 106 — Foreign Public Accounting Firms

Section 107 — Commission Oversight of the Board

Section 108 — Accounting Standards

Section 109 — Funding

TITLE II

AUDITOR INDEPENDENCE

Section 201 — Services Outside the Scope of Practice of Auditors

Section 202 — Preapproval Requirements (amended Section 10A of the Securities Exchange Act of 1934)

Section 203 — Audit Partner Rotation (amended Section 10A of the Securities Exchange Act of 1934)

Section 204 — Auditor Reports to Audit Committees (amended Section 10A of the Securities Exchange Act of 1934)

Section 205 — Conforming Amendments

Section 206 — Conflicts of interest (amended Section 10A of the Securities Exchange Act of 1934)

Section 207 — Study of mandatory rotation of registered public accounting firms

Section 208 — Commission authority

Section 209 — Considerations by appropriate state regulatory authorities

TITLE III

CORPORATE RESPONSIBILITY

Section 301 — Public company audit committees (amended Section 10A of the Securities Exchange Act of 1934)

Section 302 — Corporate responsibility for financial reports

Section 303 — Improper influence on conduct of audits

Section 304 — Forfeiture of certain bonuses and profits

Section 305 — Officer and Director Bars and Penalties

Section 306 — Insider trades during pension fund blackout periods

Section 307 — Rules of Professional Responsibility for Attorneys

Section 308 — Fair funds for investors

TITLE IV

ENHANCED FINANCIAL DISCLOSURES

Section 401 — Disclosures in periodic reports

Section 402 — Enhanced conflict of iInterest provisions

Section 403 — Disclosures of Transactions Involving Management and Principal Stockholders

Section 404 — Management assessment of internal controls

Section 405 — Exemption

Section 406 — Code of ethics for senior financial officers

Section 407 — Disclosure of audit committee financial expert

Section 408 — Enhanced review of periodic disclosures by issuers

Section 409 — Real time issuer disclosures (amended Section 13 of the Securities Exchange Act of 1934)

TITLE V

ANALYST CONFLICTS OF INTEREST

Section 501 — Treatment of securities analysts by registered securities associations and national securities exchanges

TITLE VI

COMMISSION RESOURCES AND AUTHORITY

Section 601 — Authorization of appropriations (amended Section 35 of the Securities Exchange Act of 1934)

Section 602 — Appearance and practice before the Commission (added Section 4C to the Securities Exchange Act of 1934)

Section 603 — Federal court authority to impose penny stock Bbars

Section 604 — Qualifications of associated persons of brokers and dealers

TITLE VII

STUDIES AND REPORTS

Section 701 — GAO study and report regarding consolidation of public accounting firms (Eliminated; See Note to 15 U.S.C. § 7201)

Section 702 — Commission study and report regarding credit rating agencies

Section 703 — Study and report on violators and violations

Section 704 — Study of enforcement actions

Section 705 — Study of investment banks

TITLE VIII

CORPORATE AND CRIMINAL FRAUD ACCOUNTABILITY

Section 801 — Short Title: Corporate and Criminal Fraud Accountability Act of 2002 (See Note to 15 U.S.C. § 1501)

Section 802 — Criminal penalties for altering documents

Section 803 — Debts nondischargeable if incurred in violation of securities fraud laws

Section 804 — Statute of limitations for securities fraud

Section 805 — Review of Federal Sentencing Guidelines for obstruction of justice and extensive criminal fraud

Section 806 — Protection for employees of publicly traded companies who provide evidence of fraud

Section 807 — Criminal penalties for defrauding shareholders of publicly traded companies

TITLE IX

WHITE-COLLAR CRIME PENALTY ENHANCEMENTS

Section 901 — Short Title: White-Collar Crime Penalty Enhancement Act of 2002 (See Note to 18 U.S.C. § 1341)

Section 902 — Attempts and conspiracies to commit criminal fraud offenses

Section 903 — Criminal penalties for mail and wire fraud

Section 904 — Criminal penalties for violations of the Employee Retirement Income Security Act of 1974

Section 905 — Amendment to Sentencing Guidelines relating to certain white-collar offenses

Section 906 — Corporate responsibility for financial reports

TITLE X

CORPORATE TAX RETURNS

Section 1001 — Sense of the Senate regarding the signing of corporate tax returns by chief executive officers

TITLE XI

CORPORATE FRAUD AND ACCOUNTABILITY

Section 1101 — Short Title:  Corporate Fraud Accountability Act of 2002 (See Note to 15 U.S.C. § 78a)

Section 1102 — Tampering with a record or otherwise impeding an official proceeding

 

Section 1103 — Temporary freeze authority for the Securities and Exchange Commission (amended Section 21C of the Securities Exchange Act of 1934)

Section 1104 — Amendment to the Federal Sentencing Guidelines (See Note to 28 U.S.C. § 944)

Section 1105 — Authority of the Commission to Prohibit Persons from Serving as Officers or Directors

Section 1106 — Increased criminal penalties under Securities Exchange Act of 1934 (amended Section 32 of the Securities Exchange Act of 1934)

Section 1107 — Retaliation against informants