TITLE VII - STUDIES AND REPORTS
SEC. 704. STUDY OF ENFORCEMENT ACTIONS.
(a) STUDY REQUIRED. - The Commission shall review and analyze all enforcement
actions by the Commission involving violations of reporting requirements imposed
under the securities laws, and restatements of financial statements, over the
5-year period preceding the date of enactment of this Act, to identify areas
of reporting that are most susceptible to fraud, inappropriate manipulation,
or inappropriate earnings management, such as revenue recognition and the accounting
treatment of off-balance sheet special purpose entities.
(b) REPORT REQUIRED. - The Commission shall report its findings to the Committee
on Financial Services of the House of Representatives and the Committee on Banking,
Housing, and Urban Affairs of the Senate, not later than 180 days after the
date of enactment of this Act, and shall use such findings to revise its rules
and regulations, as necessary. The report shall include a discussion of regulatory
or legislative steps that are recommended or that may be necessary to address
concerns identified in the study.
About OpenPages
OpenPages is the leading provider of Governance, Compliance and Risk
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for Sarbanes-Oxley Compliance, Financial Controls Management, General
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Governance.
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Founded in 1996, the company is headquartered in Waltham, Massachusetts, with
regional offices throughout North America and international offices in London, Munich, Paris, Tokyo and Hong Kong.
For more information on OpenPages' suite of business governance software solutions
or to register for an online demonstration, please call 781-693-5999 or visit
www.openpages.com.
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