15-U.S.C.-7242

§7242 – Improper Influence On Conduct of Audits

Pathway

Title 15 > Chapter 98 > Subchapter III > Section 7242

Details

• Reference: Section 7242
• Legend: §7242 – Improper Influence On Conduct of Audits
• USCode Year: 2013

Provision Content

(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) of this section 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 July 30, 2002; and

(2) issue final rules or regulations required by this section, not later than 270 days after July 30, 2002.

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

U.S. Encyclopedia of Law Coverage

Subchapter III – Corporate Responsibility in the Legal Encyclopedia: Trade Law

In this entry about Subchapter III – Corporate Responsibility, find legal reference material, bibliographies and premiere content related to trade law in the American Encyclopedia of Law, presenting a comprehensive view of the United States trade law-specific issues, written by authorities in the field.

15-U.S.C.-7202 in the Legal Encyclopedia: Accounting

In this entry about 15-U.S.C.-7202, find legal reference material, bibliographies and premiere content related to accounting in the American Encyclopedia of Law, presenting a comprehensive view of the United States accounting-specific issues, written by authorities in the field.

Topic Map

• Browse the Topic Map in relation with Title 15 (Commerce And Trade) guided by subject interests.