dreamproit/uscode huggingface dataset:
15 U.S.C. § 7102 (COMMERCE AND TRADE)
§ 7102. Duties of the Interagency Committee
(a) In general
The Interagency Committee shall—
(1) monitor, coordinate, and promote the plans, programs, and operations of the departments and agencies of the Federal Government that may contribute to the establishment and growth of women’s business enterprise;
(2) develop and promote new public sector initiatives, policies, programs, and plans designed to foster women’s business enterprise;
(3) review, monitor, and coordinate plans and programs, developed in the public sector, which affect the ability of women-owned businesses to obtain capital and credit;
(4) promote and assist, as appropriate, in the development of surveys of women-owned business; and
(5) design a comprehensive plan for a joint public-private sector effort to facilitate growth and development of women’s business enterprise, which plan shall, not later than 1 year after October 22, 1994, be submitted to the President for review.
(b) Meetings
The Interagency Committee shall meet not less than biannually at such times as the Interagency Committee determines to be necessary to perform the duties under subsection (a). A majority of the members of the Committee shall constitute a quorum for the approval of recommendations or reports issued pursuant to this section.
(c) Interaction with Council
In performing its duties under subsection (a), the Interagency Committee shall consult with the Council. The Interagency Committee may meet jointly with the Council at the discretion of the chairperson of the Interagency Committee and the chairperson of the Council, but not less frequently than twice annually. The chairperson of the Interagency Committee shall serve as chairperson of any joint meetings of the Interagency Committee and the Council.
(Pub. L. 100–533, title IV, § 402, as added Pub. L. 103–403, title IV, § 413, Oct. 22, 1994, 108 Stat. 4193.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 402 of Pub. L. 100–533, title IV, Oct. 25, 1988, 102 Stat. 2694, related to duties of the National Women’s Business Council, prior to the general amendment of title IV of Pub. L. 100–533 by Pub. L. 103–403. See section 7106 of this title.
15 U.S.C. § 7104 (COMMERCE AND TRADE)
§ 7104. Reports from the Interagency Committee
Not later than September 30, 1995, and annually thereafter, the Interagency Committee shall transmit, through the Small Business Administration, to the President and to the Committees on Small Business of the Senate and the House of Representatives, a report containing—
(1) a detailed description of the activities of the Interagency Committee, including a verbatim report on the status of progress of the Interagency Committee in meeting its responsibilities and duties under section 7102(a) of this title;
(2) the findings and conclusions of the Interagency Committee; and
(3) the Interagency Committee’s recommendations for such legislation and administrative actions as the Interagency Committee considers appropriate to promote the development of small business concerns owned and controlled by women.
(Pub. L. 100–533, title IV, § 404, as added Pub. L. 103–403, title IV, § 413, Oct. 22, 1994, 108 Stat. 4194; amended Pub. L. 105–135, title III, § 302, Dec. 2, 1997, 111 Stat. 2608.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 404 of Pub. L. 100–533, title IV, Oct. 25, 1988, 102 Stat. 2695, related to appointment and pay of the Director and staff of the National Women’s Business Council, prior to the general amendment of title IV of Pub. L. 100–533 by Pub. L. 103–403. See section 7107 of this title.
heading: Amendments
text: 1997—Pub. L. 105–135, § 302(1), in introductory provisions, inserted “, through the Small Business Administration,” after “transmit”.
Par. (1). Pub. L. 105–135, § 302(3), inserted before semicolon at end “, including a verbatim report on the status of progress of the Interagency Committee in meeting its responsibilities and duties under section 7102(a) of this title”.
Pub. L. 105–135, § 302(2), redesignated par. (2) as (1) and struck out former par. (1) which read as follows: “any recommendations of the Council and any comments of the Interagency Committee thereon;”.
Pars. (2) to (4). Pub. L. 105–135, § 302(2), redesignated pars. (2) to (4) as (1) to (3), respectively.
heading: Statutory Notes and Related Subsidiaries
heading: Change of Name
text: Committee on Small Business of Senate changed to Committee on Small Business and Entrepreneurship of Senate. See Senate Resolution No. 123, One Hundred Seventh Congress, June 29, 2001.
heading: Effective Date of 1997 Amendment
text: Amendment by Pub. L. 105–135 effective Oct. 1, 1997, see section 3 of Pub. L. 105–135, set out as a note under section 631 of this title.
15 U.S.C. § 7105 (COMMERCE AND TRADE)
§ 7105. Establishment of the National Women’s Business Council
There is established a council to be known as the National Women’s Business Council, which shall serve as an independent source of advice and policy recommendations to the Interagency Committee, to the Administrator through the Assistant Administrator of the Office of Women’s Business Ownership, to the Congress, and to the President.
(Pub. L. 100–533, title IV, § 405, as added Pub. L. 103–403, title IV, § 413, Oct. 22, 1994, 108 Stat. 4195.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 405 of Pub. L. 100–533, title IV, Oct. 25, 1988, 102 Stat. 2696, related to powers of the National Women’s Business Council, prior to the general amendment of title IV of Pub. L. 100–533 by Pub. L. 103–403.
15 U.S.C. § 7109 (COMMERCE AND TRADE)
§ 7109. Studies and other research
(a) In general
The Council may conduct such studies and other research relating to the award of Federal prime contracts and subcontracts to women-owned businesses, to access to credit and investment capital by women entrepreneurs, or to other issues relating to women-owned businesses, as the Council determines to be appropriate.
(b) Contract authority
In conducting any study or other research under this section, the Council may contract with one or more public or private entities.
(Pub. L. 100–533, title IV, § 409, formerly § 410, as added Pub. L. 105–135, title III, § 307, Dec. 2, 1997, 111 Stat. 2611; renumbered § 409 and amended Pub. L. 106–554, § 1(a)(9) [title VII, § 704], Dec. 21, 2000, 114 Stat. 2763, 2763A–701.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 409 of Pub. L. 100–533, as added Pub. L. 105–135, title III, § 306, Dec. 2, 1997, 111 Stat. 2610, related to the National Women’s Business Council procurement project, prior to repeal by Pub. L. 106–554, § 1(a)(9) [title VII, § 703], Dec. 21, 2000, 114 Stat. 2763, 2763A–701.
Another prior section 409 of Pub. L. 100–533 was renumbered section 410 and is classified to section 7110 of this title.
heading: Amendments
text: 2000—Pub. L. 106–554 amended section catchline and text generally. Prior to amendment, text provided conditional authorization for the Council to conduct studies and research relating to the award of Federal prime contracts and subcontracts to women-owned businesses or to issues relating to access to credit and investment capital by women entrepreneurs and to contract with other entities to conduct such studies and research.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective Oct. 1, 1997, see section 3 of Pub. L. 105–135, set out as an Effective Date of 1997 Amendment note under section 631 of this title.
15 U.S.C. § 7110 (COMMERCE AND TRADE)
§ 7110. Authorization of appropriations
(a) In general
There is authorized to be appropriated to carry out this chapter $1,000,000, for each of fiscal years 2001 through 2003, of which $550,000 shall be available in each such fiscal year to carry out section 7109 of this title.
(b) Budget review
No amount made available under this section for any fiscal year may be obligated or expended by the Council before the date on which the Council reviews and approves the operating budget of the Council to carry out the responsibilities of the Council for that fiscal year.
(Pub. L. 100–533, title IV, § 410, formerly § 409, as added Pub. L. 103–403, title IV, § 413, Oct. 22, 1994, 108 Stat. 4197; renumbered § 411 and amended Pub. L. 105–135, title III, § 305, Dec. 2, 1997, 111 Stat. 2610; renumbered § 410 and amended Pub. L. 106–554, § 1(a)(9) [title VII, § 705], Dec. 21, 2000, 114 Stat. 2763, 2763A–702.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior section 410 of Pub. L. 100–533 was renumbered section 409 and is classified to section 7109 of this title.
heading: Amendments
text: 2000—Pub. L. 106–554 amended section catchline and text generally. Prior to amendment, text authorized appropriations to carry out this chapter for fiscal years 1998 through 2000 and limited obligation or expenditure of those funds prior to the budget review by the Council for that fiscal year.
1997—Pub. L. 105–135 amended section catchline and text generally. Prior to amendment, text read as follows: “There are authorized to be appropriated for each of fiscal years 1995 through 1997, to carry out this chapter, $350,000.”
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 1997 Amendment
text: Amendment by Pub. L. 105–135 effective Oct. 1, 1997, see section 3 of Pub. L. 105–135, set out as a note under section 631 of this title.
15 U.S.C. § 7202 (COMMERCE AND TRADE)
§ 7202. Commission rules and enforcement
(a) Regulatory action
The Commission shall promulgate such rules and regulations, as may be necessary or appropriate in the public interest or for the protection of investors, and in furtherance of this Act.
(b) Enforcement
(1) In general
A violation by any person of this Act, any rule or regulation of the Commission issued under this Act, or any rule of the Board shall be treated for all purposes in the same manner as a violation of the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) or the rules and regulations issued thereunder, consistent with the provisions of this Act, and any such person shall be subject to the same penalties, and to the same extent, as for a violation of that Act or such rules or regulations.
(2) to (4) Omitted
(c) Effect on Commission authority
Nothing in this Act or the rules of the Board shall be construed to impair or limit—
(1) the authority of the Commission to regulate the accounting profession, accounting firms, or persons associated with such firms for purposes of enforcement of the securities laws;
(2) the authority of the Commission to set standards for accounting or auditing practices or auditor independence, derived from other provisions of the securities laws or the rules or regulations thereunder, for purposes of the preparation and issuance of any audit report, or otherwise under applicable law; or
(3) the ability of the Commission to take, on the initiative of the Commission, legal, administrative, or disciplinary action against any registered public accounting firm or any associated person thereof.
(Pub. L. 107–204, § 3, July 30, 2002, 116 Stat. 749.)
heading: Editorial Notes
heading: References in Text
text: This Act, referred to in text, is Pub. L. 107–204, July 30, 2002, 116 Stat. 745, known as the Sarbanes-Oxley Act of 2002. For complete classification of this Act to the Code, see Tables.
The Securities Exchange Act of 1934, referred to in subsec. (b)(1), is act June 6, 1934, ch. 404, 48 Stat. 881, as amended, which is classified principally to chapter 2B (§ 78a et seq.) of this title. For complete classification of this Act to the Code, see section 78a of this title and Tables.
heading: Codification
text: Section is comprised of section 3 of Pub. L. 107–204. Subsec. (b)(2)–(4) of section 3 of Pub. L. 107–204 amended sections 78l, 78u, and 78u–3 of this title.
15 U.S.C. § 7214a (COMMERCE AND TRADE)
§ 7214a. Additional disclosure
(a) Definitions
In this section—
(1) the term “audit report” has the meaning given the term in section 7201(a) of this title;
(2) the term “Commission” means the Securities and Exchange Commission;
(3) the term “covered form”—
(A) means—
(i) the form described in section 249.310 of title 17, Code of Federal Regulations, or any successor regulation; and
(ii) the form described in section 249.220f of title 17, Code of Federal Regulations, or any successor regulation; and
(B) includes a form that—
(i) is the equivalent of, or substantially similar to, the form described in clause (i) or (ii) of subparagraph (A); and
(ii) a foreign issuer files with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) or rules issued under that Act;
(4) the terms “covered issuer” and “non-inspection year” have the meanings given the terms in subsection (i)(1) of section 7214 of this title, as added by section 2 of this Act; and
(5) the term “foreign issuer” has the meaning given the term in section 240.3b–4 of title 17, Code of Federal Regulations, or any successor regulation.
(b) Requirement
Each covered issuer that is a foreign issuer and for which, during a non-inspection year with respect to the covered issuer, a registered public accounting firm described in subsection (i)(2)(A) of section 7214 of this title, as added by section 2 of this Act, has prepared an audit report shall disclose in each covered form filed by that issuer that covers such a non-inspection year—
(1) that, during the period covered by the covered form, such a registered public accounting firm has prepared an audit report for the issuer;
(2) the percentage of the shares of the issuer owned by governmental entities in the foreign jurisdiction in which the issuer is incorporated or otherwise organized;
(3) whether governmental entities in the applicable foreign jurisdiction with respect to that registered public accounting firm have a controlling financial interest with respect to the issuer;
(4) the name of each official of the Chinese Communist Party who is a member of the board of directors of—
(A) the issuer; or
(B) the operating entity with respect to the issuer; and
(5) whether the articles of incorporation of the issuer (or equivalent organizing document) contains any charter of the Chinese Communist Party, including the text of any such charter.
(Pub. L. 116–222, § 3, Dec. 18, 2020, 134 Stat. 1064.)
heading: Editorial Notes
heading: References in Text
text: The Securities Exchange Act of 1934, referred to in subsec. (a)(3)(B)(ii), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§ 78a et seq.) of this title. For complete classification of this Act to the Code, see section 78a of this title and Tables.
Section 2 of this Act, referred to in subsecs. (a)(4) and (b), means section 2 of Pub. L. 116–222.
15 U.S.C. § 7218 (COMMERCE AND TRADE)
§ 7218. Accounting standards
(a) Omitted
(b) Commission authority
The Commission shall promulgate such rules and regulations to carry out section 77s(b) of this title as it deems necessary or appropriate in the public interest or for the protection of investors.
(c) No effect on Commission powers
Nothing in this Act, including this section and the amendment made by this section, shall be construed to impair or limit the authority of the Commission to establish accounting principles or standards for purposes of enforcement of the securities laws.
(d) Study and report on adopting principles-based accounting
(1) Study
(A) In general
The Commission shall conduct a study on the adoption by the United States financial reporting system of a principles-based accounting system.
(B) Study topics
The study required by subparagraph (A) shall include an examination of—
(i) the extent to which principles-based accounting and financial reporting exists in the United States;
(ii) the length of time required for change from a rules-based to a principles-based financial reporting system;
(iii) the feasibility of and proposed methods by which a principles-based system may be implemented; and
(iv) a thorough economic analysis of the implementation of a principles-based system.
(2) Report
Not later than 1 year after July 30, 2002, the Commission shall submit a report on the results of the study required by paragraph (1) to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives.
(Pub. L. 107–204, title I, § 108, July 30, 2002, 116 Stat. 768.)
heading: Editorial Notes
heading: References in Text
text: This Act, referred to in subsec. (c), is Pub. L. 107–204, July 30, 2002, 116 Stat. 745, known as the Sarbanes-Oxley Act of 2002. For complete classification of this Act to the Code, see Tables.
heading: Codification
text: Section is comprised of section 108 of Pub. L. 107–204. Subsec. (a) of section 108 of Pub. L. 107–204 amended section 77s of this title.
15 U.S.C. § 7234 (COMMERCE AND TRADE)
§ 7234. Considerations by appropriate State regulatory authorities
In supervising nonregistered public accounting firms and their associated persons, appropriate State regulatory authorities should make an independent determination of the proper standards applicable, particularly taking into consideration the size and nature of the business of the accounting firms they supervise and the size and nature of the business of the clients of those firms. The standards applied by the Board under this Act should not be presumed to be applicable for purposes of this section for small and medium sized nonregistered public accounting firms.
(Pub. L. 107–204, title II, § 209, July 30, 2002, 116 Stat. 775.)
heading: Editorial Notes
heading: References in Text
text: This Act, referred to in text, is Pub. L. 107–204, July 30, 2002, 116 Stat. 745, known as the Sarbanes-Oxley Act of 2002. For complete classification of this Act to the Code, see Tables.
15 U.S.C. § 7261 (COMMERCE AND TRADE)
§ 7261. Disclosures in periodic reports
(a) Omitted
(b) Commission rules on pro forma figures
Not later than 180 days after July 30, 2002, the Commission shall issue final rules providing that pro forma financial information included in any periodic or other report filed with the Commission pursuant to the securities laws, or in any public disclosure or press or other release, shall be presented in a manner that—
(1) does not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the pro forma financial information, in light of the circumstances under which it is presented, not misleading; and
(2) reconciles it with the financial condition and results of operations of the issuer under generally accepted accounting principles.
(c) Study and report on special purpose entities
(1) Study required
The Commission shall, not later than 1 year after the effective date of adoption of off-balance sheet disclosure rules required by section 78m(j) of this title, complete a study of filings by issuers and their disclosures to determine—
(A) the extent of off-balance sheet transactions, including assets, liabilities, leases, losses, and the use of special purpose entities; and
(B) whether generally accepted accounting rules result in financial statements of issuers reflecting the economics of such off-balance sheet transactions to investors in a transparent fashion.
(2) Report and recommendations
Not later than 6 months after the date of completion of the study required by paragraph (1), the Commission shall submit a report to the President, the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Financial Services of the House of Representatives, setting forth—
(A) the amount or an estimate of the amount of off-balance sheet transactions, including assets, liabilities, leases, and losses of, and the use of special purpose entities by, issuers filing periodic reports pursuant to section 78m or 78o of this title;
(B) the extent to which special purpose entities are used to facilitate off-balance sheet transactions;
(C) whether generally accepted accounting principles or the rules of the Commission result in financial statements of issuers reflecting the economics of such transactions to investors in a transparent fashion;
(D) whether generally accepted accounting principles specifically result in the consolidation of special purpose entities sponsored by an issuer in cases in which the issuer has the majority of the risks and rewards of the special purpose entity; and
(E) any recommendations of the Commission for improving the transparency and quality of reporting off-balance sheet transactions in the financial statements and disclosures required to be filed by an issuer with the Commission.
(Pub. L. 107–204, title IV, § 401, July 30, 2002, 116 Stat. 785.)
heading: Editorial Notes
heading: Codification
text: Section is comprised of section 401 of Pub. L. 107–204. Subsec. (a) of section 401 of Pub. L. 107–204 amended section 78m of this title.
15 U.S.C. § 7262 (COMMERCE AND TRADE)
§ 7262. Management assessment of internal controls
(a) Rules required
The Commission shall prescribe rules requiring each annual report required by section 78m(a) or 78o(d) of this title to contain an internal control report, which shall—
(1) state the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting; and
(2) contain an assessment, as of the end of the most recent fiscal year of the issuer, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.
(b) Internal control evaluation and reporting
With respect to the internal control assessment required by subsection (a), each registered public accounting firm that prepares or issues the audit report for the issuer, other than an issuer that is an emerging growth company (as defined in section 78c of this title), shall attest to, and report on, the assessment made by the management of the issuer. An attestation made under this subsection shall be made in accordance with standards for attestation engagements issued or adopted by the Board. Any such attestation shall not be the subject of a separate engagement.
(c) Exemption for smaller issuers
Subsection (b) shall not apply with respect to any audit report prepared for an issuer that is neither a “large accelerated filer” nor an “accelerated filer” as those terms are defined in Rule 12b–2 of the Commission (17 C.F.R. 240.12b–2).
(Pub. L. 107–204, title IV, § 404, July 30, 2002, 116 Stat. 789; Pub. L. 111–203, title IX, § 989G(a), July 21, 2010, 124 Stat. 1948; Pub. L. 112–106, title I, § 103, Apr. 5, 2012, 126 Stat. 310.)
heading: Editorial Notes
heading: Amendments
text: 2012—Subsec. (b). Pub. L. 112–106 inserted “, other than an issuer that is an emerging growth company (as defined in section 78c of this title),” before “shall attest to”.
2010—Subsec. (c). Pub. L. 111–203 added subsec. (c).
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 2010 Amendment
text: Amendment by Pub. L. 111–203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as an Effective Date note under section 5301 of Title 12, Banks and Banking.
15 U.S.C. § 7263 (COMMERCE AND TRADE)
§ 7263. Exemption
Nothing in section 401, 402, or 404, the amendments made by those sections, or the rules of the Commission under those sections shall apply to any investment company registered under section 80a–8 of this title.
(Pub. L. 107–204, title IV, § 405, July 30, 2002, 116 Stat. 789.)
heading: Editorial Notes
heading: References in Text
text: Sections 401, 402, and 404, referred to in text, mean sections 401, 402, and 404 of Pub. L. 107–204. Section 401 enacted section 7261 of this title and amended section 78m of this title. Section 402 amended section 78m of this title. Section 404 enacted section 7262 of this title.