Sarbanes-oxley act of 2002

6 
Sec. 3 
SARBANES-OXLEY ACT OF 2002 
by this Act, and includes the rules, regulations, and orders 
issued by the Commission thereunder. 
(16) S
TATE
.—The term ‘‘State’’ means any State of the 
United States, the District of Columbia, Puerto Rico, the Virgin 
Islands, or any other territory or possession of the United 
States. 
(17) F
OREIGN AUDITOR OVERSIGHT AUTHORITY
.—The term 
‘‘foreign auditor oversight authority’’ means any governmental 
body or other entity empowered by a foreign government to 
conduct inspections of public accounting firms or otherwise to 
administer or enforce laws related to the regulation of public 
accounting firms. 
(b) C
ONFORMING
A
MENDMENT
.— 
SEC. 3. ø15 U.S.C. 7202¿ COMMISSION RULES AND ENFORCEMENT. 
(a) R
EGULATORY
A
CTION
.—The Commission shall promulgate 
such rules and regulations, as may be necessary or appropriate in 
the public interest or for the protection of investors, and in further-
ance of this Act. 
(b) E
NFORCEMENT
.— 
(1) I
N GENERAL
.—A violation by any person of this Act, any 
rule or regulation of the Commission issued under this Act, or 
any rule of the Board shall be treated for all purposes in the 
same manner as a violation of the Securities Exchange Act of 
1934 (15 U.S.C. 78a et seq.) or the rules and regulations issued 
thereunder, consistent with the provisions of this Act, and any 
such person shall be subject to the same penalties, and to the 
same extent, as for a violation of that Act or such rules or reg-
ulations. 
* * * * * * * 
(c) E
FFECT ON
C
OMMISSION
A
UTHORITY
.—Nothing in this Act or 
the rules of the Board shall be construed to impair or limit— 
(1) the authority of the Commission to regulate the ac-
counting profession, accounting firms, or persons associated 
with such firms for purposes of enforcement of the securities 
laws; 
(2) the authority of the Commission to set standards for 
accounting or auditing practices or auditor independence, de-
rived from other provisions of the securities laws or the rules 
or regulations thereunder, for purposes of the preparation and 
issuance of any audit report, or otherwise under applicable 
law; or 
(3) the ability of the Commission to take, on the initiative 
of the Commission, legal, administrative, or disciplinary action 
against any registered public accounting firm or any associated 
person thereof. 
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December 21, 2020 
G:\COMP\SEC\SARBANES-OXLEY ACT OF 2002.XML
As Amended Through P.L. 116-222, Enacted December 18, 2020

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