5 U.S.C. § 3114 — Appointment of candidates to certain positions in the competitive service by the Securities and Exchange Commission

(a) Applicability. This section covers competitive-service positions at the Commission for accountants, economists, securities compliance examiners, and positions requiring specialized knowledge of financial or capital-market formation or regulation, financial-market structures or surveillance, or information technology. (b) Appointment authority. (1) The Commission may appoint candidates to those positions under the statutes, rules, and regulations governing excepted-service appointments, despite the statutes, rules, and regulations governing competitive-service appointments. (2) Such an appointment does not convert the position from competitive service to excepted service. (c) Reports. Within 90 days after fiscal year 2003 ends, for fiscal year 2003, and within 90 days after fiscal year 2005 ends, for fiscal years 2004 and 2005, the Commission must report to the listed House and Senate committees on its use of subsection (b). Each report must describe authorized hiring-process changes, including: (1) candidate quality; (2) selection procedures; (3) numbers, types, and grades of employees hired; (4) benefits or shortcomings; (5) effects on hiring veterans and other demographic groups; and (6) manager training for administering the streamlined system. (d) Commission defined. “Commission” means the Securities and Exchange Commission. This section does not define the other terms it uses.