II 
108TH CONGRESS 
1ST SESSION 
H. R. 658
IN THE SENATE OF THE UNITED STATES 
JUNE 18, 2003
Received 
AN ACT 
To provide for the protection of investors, increase confidence 
in the capital markets system, and fully implement the 
Sarbanes-Oxley Act of 2002 by streamlining the hiring 
process for certain employment positions in the Securities 
and Exchange Commission.
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Accountant, Compli-
ance, and Enforcement Staffing Act of 2003’’. 
SEC. 2. APPOINTMENT OF ACCOUNTANTS, ECONOMISTS, 
AND EXAMINERS BY THE SECURITIES AND 
EXCHANGE COMMISSION. 
(a) IN GENERAL.—Subchapter I of chapter 31 of title 
5, United States Code, is amended by adding at the end 
the following: 
‘‘§ 3114. Appointment of accountants, economists, and 
examiners by the Securities and Ex-
change Commission 
‘‘(a) APPLICABILITY.—This section applies with re-
spect to any position of accountant, economist, and securi-
ties compliance examiner at the Commission that is in the 
competitive service. 
‘‘(b) APPOINTMENT AUTHORITY.—
‘‘(1) IN GENERAL.—The Commission may ap-
point candidates to any position described in sub-
section (a)—
‘‘(A) in accordance with the statutes, rules, 
and regulations governing appointments in the 
excepted service; and
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‘‘(B) notwithstanding any statutes, rules, 
and regulations governing appointments in the 
competitive service. 
‘‘(2) RULE OF CONSTRUCTION.—The appoint-
ment of a candidate to a position under authority of 
this subsection shall not be considered to cause such 
position to be converted from the competitive service 
to the excepted service. 
‘‘(c) REPORTS.—No later than 90 days after the end 
of fiscal year 2003 (for fiscal year 2003) and 90 days after 
the end of fiscal year 2005 (for fiscal years 2004 and 
2005), the Commission shall submit a report with respect 
to its exercise of the authority granted by subsection (b) 
during such fiscal years to the Committee on Government 
Reform and the Committee on Financial Services of the 
House of Representatives and the Committee on Govern-
mental Affairs and the Committee on Banking, Housing, 
and Urban Affairs of the Senate. Such reports shall de-
scribe the changes in the hiring process authorized by such 
subsection, including relevant information related to—
‘‘(1) the quality of candidates; 
‘‘(2) the procedures used by the Commission to 
select candidates through the streamlined hiring 
process;
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‘‘(3) the numbers, types, and grades of employ-
ees hired under the authority; 
‘‘(4) any benefits or shortcomings associated 
with the use of the authority; 
‘‘(5) the effect of the exercise of the authority 
on the hiring of veterans and other demographic 
groups; and 
‘‘(6) the way in which managers were trained in 
the administration of the streamlined hiring system. 
‘‘(d) COMMISSION DEFINED.—For purposes of this 
section, the term ‘Commission’ means the Securities and 
Exchange Commission.’’. 
(b) CLERICAL AMENDMENT.—The table of sections 
for chapter 31 of title 5, United States Code, is amended 
by inserting after the item relating to section 3113 the 
following:
‘‘3114. Appointment of accountants, economists, and examiners by the Securi-
ties and Exchange Commission.’’.
Passed the House of Representatives June 17, 2003. 
Attest: 
JEFF TRANDAHL, 
Clerk. 
By MARTHA C. MORRISON, 
Deputy Clerk.