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Sarbanes Oxley
Act |
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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.
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