U.S. Code » Title 15 » Chapter CHAPTER 98— PUBLIC COMPANY ACCOUNTING REFORM AND CORPORATE RESPONSIBILITY

15 U.S.C. § 7202

Commission rules and enforcement

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(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 authorityNothing 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.)Editorial NotesReferences in 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, 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.

Codification

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.

Notes of Decisions
Cited in 14 cases (1 in the last 5 years), 2005–2025 · leading case: Free Enter. Fund v. Pub. Co. Acct. Oversight Bd., 537 F.3d 667 (D.C. Cir. 2008).
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Free Enter. Fund v. Pub. Co. Acct. Oversight Bd., 537 F.3d 667 (D.C. Cir. 2008). · cites it 6× “at 709, given that the Act preserves the Commission's own authority to take administrative or disciplinary action against a firm, 15 U.S.C. § 7202 (c)(3). The fact that the Commission's investigative authority remains intact is consistent with the role of the Board as a…”
Lawson v. FMR LLC, 134 S. Ct. 1158 (2014). “Congress instead delegated that power to the SEC: Section 3(a) of the Sarbanes-Oxley Act, codified at 15 U.S.C. § 7202 (a), provides that the SEC "shall promulgate such rules and regulations, as may be necessary or appropriate in the public interest or for the protection of…”
Free Enter. Fund v. Pub. Co. Acct. Oversight Bd., 561 U.S. 477 (2010). “§553 , 15 U. S. C. §7202 (a), PCAOB Brief 24, n.”
Kogan Ex Rel. Ligand Pharm. Inc. v. Robinson, 432 F. Supp. 2d 1075 (S.D. Cal. 2006). · cites it 2× “See 15 U.S.C. § 7202 (b)(1). Plaintiff concedes this fact.”
Cohen v. Viray Ex Rel. DHB Indus., Inc., 622 F.3d 188 (2d Cir. 2010). “See 15 U.S.C. § 7202 (b)(1). 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.”
Lawson v. FMR LLC, 724 F. Supp. 2d 141 (D. Mass. 2010). “Moreover, OSHA summarized the rule as establishing “the procedures and time frames for the handling of discrimination complaints” under SOX.”
Neer v. Pelino, 389 F. Supp. 2d 648 (E.D. Pa. 2005). “15 U.S.C. § 7202 (b)(1). As discussed in detail below, Congress chose to treat enforcement rights differently throughout the Act.”
Fanning v. Nat'l Grid/Keyspan, 649 F. App'x 48 (2d Cir. 2016). “2003) (ob *50 serving that pre-Sarbanes-Oxley statute of limitations was one year after discovery of facts constituting the violation); see also 15 U.S.C. § 7202 (b)(1) (violations of Sarbanes-Oxley treated the same as violations of Securities Exchange Act).”
Free Enter. Fund v. Pub. Co. Acct. Oversight Bd., 177 L. Ed. 2d 706 (2010). “§ 553 , 15 U.S.C. § 7202 (a), PCAOB [ 561 U.S. 505 ] Brief 24, n.”
Free Enter. Fund v. Pub. Co. Acct. Oversight Bd., 561 U.S. 477 (2010). “§553 , 15 U. S. C. § 7202 (a), PCAOB *505 Brief 24, n.”
In Re: Two Grand Jury Subpoenas Dated September 13, 2023 (2d Cir. 2025). · cites it 4× “§§ 78m(b)(2), 78m(b)(5) and 78ff(a) – and mislead Company auditors – a violation of 15 U.S.C. §§ 7202 , 7242, and 78ff(a) and 17 C.”
In Re Verizon Ins. Coverage Appeals (Del. 2019). “in contravention of such rules and regulations as the Commission may prescribe”); 15 U.S.C. § 7202 (a) (“Commission shall promulgate such rules and regulations, .”
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