ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

15 U.S.C. § 7243 — Forfeiture of certain bonuses and profits

submitted 24 years ago by Pub. L. 107-204 to r/title-15-COMMERCE-AND-TRADE · 140 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain
(a) Additional compensation prior to noncompliance with Commission financial reporting requirements

If an issuer is required to prepare an accounting restatement due to the material noncompliance of the issuer, as a result of misconduct, with any financial reporting requirement under the securities laws, the chief executive officer and chief financial officer of the issuer shall reimburse the issuer for—

(1)

any bonus or other incentive-based or equity-based compensation received by that person from the issuer during the 12-month period following the first public issuance or filing with the Commission (whichever first occurs) of the financial document embodying such financial reporting requirement; and

(2)

any profits realized from the sale of securities of the issuer during that 12-month period.

(b) Commission exemption authority

The Commission may exempt any person from the application of subsection (a), as it deems necessary and appropriate.

Source credit: (Pub. L. 107–204, title III, § 304, July 30, 2002, 116 Stat. 778.)

history & why it existsrecord from the source credit
  • 2002Enacted · Pub. L. 107-204 · 116 Stat. 778

A history note hasn’t been published yet. The record shows enactment by Pub. L. 107-204 on 2002-07-30.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case