Ley sarbanes oxley

H. R. 3763

One Hundred Seventh Congress of the United States of America
AT THE SECOND SESSION Begun and held at the City of Washington on Wednesday, the twenty-third day of January, two thousand and two

An Act
To protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes.

Be it enacted by the Senateand House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) SHORT TITLE.—This Act may be cited as the ‘‘SarbanesOxley Act of 2002’’. (b) TABLE OF CONTENTS.—The table of contents for this Act is as follows:
Sec. 1. Short title; table of contents. Sec. 2. Definitions. Sec. 3. Commission rules and enforcement. Sec. Sec. Sec.Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. TITLE I—PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD 101. Establishment; administrative provisions. 102. Registration with the Board. 103. Auditing, quality control, and independence standards and rules. 104. Inspections of registered public accounting firms. 105. Investigations anddisciplinary proceedings. 106. Foreign public accounting firms. 107. Commission oversight of the Board. 108. Accounting standards. 109. Funding. 201. 202. 203. 204. 205. 206. 207. 208. 209. 301. 302. 303. 304. 305. 306. 307. 308. TITLE II—AUDITOR INDEPENDENCE Services outside the scope of practice of auditors. Preapproval requirements. Audit partner rotation. Auditor reports to audit committees.Conforming amendments. Conflicts of interest. Study of mandatory rotation of registered public accounting firms. Commission authority. Considerations by appropriate State regulatory authorities. TITLE III—CORPORATE RESPONSIBILITY Public company audit committees. Corporate responsibility for financial reports. Improper influence on conduct of audits. Forfeiture of certain bonuses and profits. Officerand director bars and penalties. Insider trades during pension fund blackout periods. Rules of professional responsibility for attorneys. 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.

H. R.3763—2
Sec. Sec. Sec. Sec. Sec. Sec. 404. 405. 406. 407. 408. 409. Management assessment of internal controls. Exemption. Code of ethics for senior financial officers. Disclosure of audit committee financial expert. Enhanced review of periodic disclosures by issuers. Real time issuer disclosures.

TITLE V—ANALYST CONFLICTS OF INTEREST Sec. 501. Treatment of securities analysts by registeredsecurities associations and national securities exchanges. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. 601. 602. 603. 604. 701. 702. 703. 704. 705. TITLE VI—COMMISSION RESOURCES AND AUTHORITY Authorization of appropriations. Appearance and practice before the Commission. Federal court authority to impose penny stock bars. Qualifications of associated persons of brokers anddealers. TITLE VII—STUDIES AND REPORTS GAO study and report regarding consolidation of public accounting firms. Commission study and report regarding credit rating agencies. Study and report on violators and violations Study of enforcement actions. Study of investment banks.

TITLE VIII—CORPORATE AND CRIMINAL FRAUD ACCOUNTABILITY 801. Short title. 802. Criminal penalties for altering documents. 803.Debts nondischargeable if incurred in violation of securities fraud laws. 804. Statute of limitations for securities fraud. 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. 807. Criminal penalties for defrauding shareholders of publicly traded...