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Sarbanes Oxley
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SEC. 1104.
AMENDMENT TO THE FEDERAL SENTENCING
GUIDELINES.
(a) REQUEST FOR IMMEDIATE CONSIDERATION BY THE
UNITED
STATES SENTENCING
COMMISSION.Pursuant to its
authority under
section
994(p) of title 28, United States Code, and in
accordance
with this
section, the United States Sentencing
Commission is
requested to
(1) promptly
review the sentencing guidelines applicable
to securities
and accounting fraud and related offenses;
(2)
expeditiously consider the promulgation of new
sentencing
guidelines or
amendments to existing sentencing guidelines
to provide an
enhancement for officers or directors of
publicly
traded corporations who commit fraud and
related
offenses; and
(3) submit to
Congress an explanation of actions taken
by the
Sentencing Commission pursuant to paragraph
(2) and
any
additional policy recommendations the
Sentencing Commission
may have for
combating offenses described in paragraph (1).
(b) CONSIDERATIONS IN
REVIEW.In carrying out this
section,
the
Sentencing Commission is requested to
(1) ensure
that the sentencing guidelines and policy
statements
reflect the
serious nature of securities, pension, and
accounting
fraud and the need for aggressive and
appropriate
law
enforcement action to prevent such offenses;
(2) assure
reasonable consistency with other relevant
directives
and with
other guidelines;
(3) account
for any aggravating or mitigating
circumstances
that might
justify exceptions, including circumstances
for which
the
sentencing guidelines currently provide
sentencing enhancements;
(4) ensure
that guideline offense levels and enhancements
for an
obstruction of justice offense are adequate in
cases where
documents or
other physical evidence are actually destroyed
or
fabricated;
(5) ensure
that the guideline offense levels and
enhancements
under United
States Sentencing Guideline 2B1.1 (as
in effect on
the date of enactment of this Act) are
sufficient
for a fraud
offense when the number of victims adversely
involved is
significantly greater than 50;
(6) make any
necessary conforming changes to the sentencing
guidelines;
and
(7) assure
that the guidelines adequately meet the
purposes
of sentencing
as set forth in section 3553 (a)(2) of title
18,
United States
Code.
(c) EMERGENCY AUTHORITY AND DEADLINE FOR
COMMISSION
ACTION.The
United States Sentencing Commission is
requested
to promulgate
the guidelines or amendments provided for
under
this section
as soon as practicable, and in any event not
later
than the 180
days after the date of enactment of this Act,
in
accordance
with the procedures sent forth in section
21(a) of the
Sentencing
Reform Act of 1987, as though the authority
under
that Act had
not expired.
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