HR 4083 · 107th Congress · Finance and Financial Sector
Corporate Responsibility Act of 2002
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.(2002-04-29)
Plain Language Summary
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Corporate Responsibility Act of 2002 - Instructs the Securities and Exchange Commission (SEC) to require disgorgement of salaries, commissions, fees, bonuses, options, profits, and losses avoided through securities transactions obtained by an officer or director of an issuer during a reporting period when such officer or director engaged in misconduct resulting in the filing of a false or materially misleading financial statement. Requires the principal executive officer or officers and the principal financial officer or officers to certify in each annual or quarterly report filed or submitted that: (1) the signing officer has reviewed the report and that it does not contain untrue statements of a material fact or omit a material fact; (2) such report fairly presents the financial condition and results of operation in all material respects; (3) the signing officers have established and maintained effective internal controls and disclosed to the auditors and the audit committee of the board of directors any significant deficiencies in such controls which could adversely affect financial data and any fraud, whether or not material; and (4) there were or were not changes in internal c…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (14)
13 Democrats1 Independent