Section 303 -- Improper Influence on Conduct of Audits
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.
Enforcement. In any civil proceeding, the
Commission shall have exclusive authority to enforce this section and any
rule or regulation issued under this section.
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.
Deadline for Rulemaking. The Commission
propose the rules or regulations required
by this section, not later than 90 days after the date of enactment of
this Act; and
issue final rules or regulations required
by this section, not later than 270 days after that date of enactment.
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