Sarbanes Oxley Act Section 1104

 

SEC. 1104. AMENDMENT TO THE FEDERAL SENTENCING GUIDELINES.
 
(a) REQUEST FOR IMMEDIATE CONSIDERATION BY THE UNITED
STATES SENTENCING COMMISSION.—Pursuant to its authority under
section 994(p) of title 28, United States Code, and in accordance
with this section, the United States Sentencing Commission is
requested to—
 
(1) promptly review the sentencing guidelines applicable
to securities and accounting fraud and related offenses;
 
(2) expeditiously consider the promulgation of new sentencing
guidelines or amendments to existing sentencing guidelines
to provide an enhancement for officers or directors of
publicly traded corporations who commit fraud and related
offenses; and
 
(3) submit to Congress an explanation of actions taken
by the Sentencing Commission pursuant to paragraph (2) and
any additional policy recommendations the Sentencing Commission
may have for combating offenses described in paragraph (1).
 
(b) CONSIDERATIONS IN REVIEW.—In carrying out this section,
the Sentencing Commission is requested to—
 
(1) ensure that the sentencing guidelines and policy statements
reflect the serious nature of securities, pension, and
accounting fraud and the need for aggressive and appropriate
law enforcement action to prevent such offenses;
 
(2) assure reasonable consistency with other relevant directives
and with other guidelines;
 
(3) account for any aggravating or mitigating circumstances
that might justify exceptions, including circumstances for which
the sentencing guidelines currently provide sentencing enhancements;
 
(4) ensure that guideline offense levels and enhancements
for an obstruction of justice offense are adequate in cases where
documents or other physical evidence are actually destroyed
or fabricated;
 
(5) ensure that the guideline offense levels and enhancements
under United States Sentencing Guideline 2B1.1 (as
in effect on the date of enactment of this Act) are sufficient
for a fraud offense when the number of victims adversely
involved is significantly greater than 50;
 
(6) make any necessary conforming changes to the sentencing
guidelines; and
 
(7) assure that the guidelines adequately meet the purposes
of sentencing as set forth in section 3553 (a)(2) of title 18,
United States Code.
 
(c) EMERGENCY AUTHORITY AND DEADLINE FOR COMMISSION
ACTION.—The United States Sentencing Commission is requested
to promulgate the guidelines or amendments provided for under
this section as soon as practicable, and in any event not later
than the 180 days after the date of enactment of this Act, in
accordance with the procedures sent forth in section 21(a) of the
Sentencing Reform Act of 1987, as though the authority under
that Act had not expired.

 
 

 

 

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