Sarbanes-oxley act of 2002

46 
Sec. 703 
SARBANES-OXLEY ACT OF 2002 
the Committee on Banking, Housing, and Urban Affairs of the Sen-
ate not later than 180 days after the date of enactment of this Act. 
SEC. 703. STUDY AND REPORT ON VIOLATORS AND VIOLATIONS. 
(a) S
TUDY
.—The Commission shall conduct a study to deter-
mine, based upon information for the period from January 1, 1998, 
to December 31, 2001— 
(1) the number of securities professionals, defined as public 
accountants, public accounting firms, investment bankers, in-
vestment advisers, brokers, dealers, attorneys, and other secu-
rities professionals practicing before the Commission— 
(A) who have been found to have aided and abetted a 
violation of the Federal securities laws, including rules or 
regulations promulgated thereunder (collectively referred 
to in this section as ‘‘Federal securities laws’’), but who 
have not been sanctioned, disciplined, or otherwise penal-
ized as a primary violator in any administrative action or 
civil proceeding, including in any settlement of such an ac-
tion or proceeding (referred to in this section as ‘‘aiders 
and abettors’’); and 
(B) who have been found to have been primary viola-
tors of the Federal securities laws; 
(2) a description of the Federal securities laws violations 
committed by aiders and abettors and by primary violators, in-
cluding— 
(A) the specific provision of the Federal securities laws 
violated; 
(B) the specific sanctions and penalties imposed upon 
such aiders and abettors and primary violators, including 
the amount of any monetary penalties assessed upon and 
collected from such persons; 
(C) the occurrence of multiple violations by the same 
person or persons, either as an aider or abettor or as a pri-
mary violator; and 
(D) whether, as to each such violator, disciplinary 
sanctions have been imposed, including any censure, sus-
pension, temporary bar, or permanent bar to practice be-
fore the Commission; and 
(3) the amount of disgorgement, restitution, or any other 
fines or payments that the Commission has assessed upon and 
collected from, aiders and abettors and from primary violators. 
(b) R
EPORT
.—A report based upon the study conducted pursu-
ant to subsection (a) shall be submitted to the Committee on Bank-
ing, Housing, and Urban Affairs of the Senate, and the Committee 
on Financial Services of the House of Representatives not later 
than 6 months after the date of enactment of this Act.