FEDERAL · 15 U.S.C. · Chapter SUBCHAPTER III—CORPORATE RESPONSIBILITY
Forfeiture of certain bonuses and profits
15 U.S.C. § 7243
Title15 — Commerce and Trade
ChapterSUBCHAPTER III—CORPORATE RESPONSIBILITY
This text of 15 U.S.C. § 7243 (Forfeiture of certain bonuses and profits) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
15 U.S.C. § 7243.
Text
(a)Additional compensation prior to noncompliance with Commission financial reporting requirements
If an issuer is required to prepare an accounting restatement due to the material noncompliance of the issuer, as a result of misconduct, with any financial reporting requirement under the securities laws, the chief executive officer and chief financial officer of the issuer shall reimburse the issuer for—
(1)any bonus or other incentive-based or equity-based compensation received by that person from the issuer during the 12-month period following the first public issuance or filing with the Commission (whichever first occurs) of the financial document embodying such financial reporting requirement; and
(2)any profits realized from the sale of securities of the issuer during that 12-month
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Source Credit
History
(Pub. L. 107–204, title III, §304, July 30, 2002, 116 Stat. 778.)
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15 U.S.C. § 7243, Counsel Stack Legal Research, https://law.counselstack.com/usc/15/7243.