IB 
Union Calendar No. 69
108TH CONGRESS 
1ST SESSION 
H. R. 658
[Report No. 108–63, Part I] 
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. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 11, 2003
Mr. BAKER (for himself and Mr. OXLEY) introduced the following bill; which 
was referred to the Committee on Financial Services, and in addition to 
the Committee on Government Reform, for a period to be subsequently 
determined by the Speaker, in each case for consideration of such provi-
sions as fall within the jurisdiction of the committee concerned 
APRIL 8, 2003
Reported from the Committee on Financial Services with an amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
APRIL 8, 2003
Referral to the Committee on Government Reform extended for a period 
ending not later than June 2, 2003
JUNE 2, 2003
Committee on Government Reform discharged; committed to the Committee 
of the Whole House on the State of the Union and ordered to be printed 
A BILL 
To provide for the protection of investors, increase confidence 
in the capital markets system, and fully implement the
tinuing in the competitive service as long as he or 
she continues to occupy such position.’’.
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Accountant, Compliance, 
and Enforcement Staffing Act of 2003’’. 
SEC. 2. ACCOUNTANTS, ECONOMISTS, AND EXAMINERS AP-
POINTMENTS. 
Section 4(b) of the Securities Exchange Act of 1934 
(15 U.S.C. 78d(b)) is amended—
(1) by redesignating paragraph (3) as para-
graph (4); and 
(2) by inserting after paragraph (2) the fol-
lowing new paragraph: 
‘‘(3) ACCOUNTANTS, ECONOMISTS, AND COMPLI-
ANCE EXAMINERS APPOINTMENTS.—
‘‘(A) APPOINTMENT AUTHORITY.—
‘‘(i) This subparagraph applies with 
respect to any position of accountant, econo-
mist, and securities compliance examiner at 
the Commission that is in the competitive 
service. 
‘‘(ii) The Commission may appoint 
candidates to any position described in 
clause (i) in accordance with the statutes, 
rules, and regulations governing appoint-
ments in the excepted service, and notwith-
standing any statutes, rules, and regula-
tions governing appointments in the com-
petitive service. 
‘‘(iii) The appointment of a candidate 
to a position under authority of this sub-
paragraph shall not be considered to cause 
such position to be converted from the com-
petitive service to the excepted service. 
‘‘(iv) For purposes of this subpara-
graph, the terms ‘competitive service’ and 
‘excepted service’ have the respective mean-
ings given them under chapter 21 of title 5, 
United States Code. 
‘‘(B) 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 Com-
mission shall submit a report with respect to its 
exercise of the authority granted by subpara-
graph (A) during such fiscal years to the Com-
mittee on Financial Services of the House of 
Representatives and the Committee on Banking, 
Housing, and Urban Affairs of the Senate. Such 
reports shall describe the changes in the hiring
process authorized by such subparagraph, includ-
ing relevant information related to—
‘‘(i) the quality of candidates; 
‘‘(ii) the procedures used by the Com-
mission to select candidates through the 
streamlined hiring process; 
‘‘(iii) the numbers, types, and grades of 
employees hired under the authority; 
‘‘(iv) any benefits or shortcomings as-
sociated with the use of the authority; 
‘‘(v) the effect of the exercise of the au-
thority on the hiring of veterans and other 
demographic groups; and 
‘‘(vi) the way in which managers were 
trained in the administration of the stream-
lined hiring system.’’.
Union Calendar No. 69
108TH CONGRESS 
1ST SESSION 
H. R. 658
[Report No. 108–63, Part I] 
A BILL 
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 em-
ployment positions in the Securities and Ex-
change Commission. 
JUNE 2, 2003
Committee on Government Reform discharged; com-
mitted to the Committee of the Whole House on the 
State of the Union and ordered to be printed