15 USC 78d-6 - Report and certification of internal supervisory controls

U.S Code last checked for updates: Nov 22, 2024

§ 78d–6.

Report and certification of internal supervisory controls

(a)

Annual reports and certification

(b)

Contents of reports

Each report under subsection (a) shall contain—

(1)

an assessment, as of the end of the most recent fiscal year, of the effectiveness of—

(A)

the internal supervisory controls of the Commission; and

(B)

the procedures of the Commission applicable to the staff of the Commission who perform examinations of registered entities, enforcement investigations, and reviews of corporate financial securities filings;

(2)

a certification that the Commission has adequate internal supervisory controls to carry out the duties of the Commission described in paragraph (1)(B); and

(3)

a summary by the Comptroller General of the United States of the review carried out under subsection (d).1

 So in original. Probably should be “(e).”

(c)

Certification

(1)

Signature

(2)

Content of certification

Each individual described in paragraph (1) shall certify that the individual—

(A)

is directly responsible for establishing and maintaining the internal supervisory controls of the Division or Office of which the individual is the head;

(B)

is knowledgeable about the internal supervisory controls of the Division or Office of which the individual is the head;

(C)

has evaluated the effectiveness of the internal supervisory controls during the 90-day period ending on the final day of the fiscal year to which the report relates; and

(D)

has disclosed to the Commission any significant deficiencies in the design or operation of internal supervisory controls that could adversely affect the ability of the Division or Office to consistently conduct inspections, or investigations, or reviews of filings with professional competence and integrity.

(d)

New Director or Acting Director

(e)

Review by the Comptroller General

(1)

Report

(2)

Authority to hire experts

(Pub. L. 111–203, title IX, § 961, July 21, 2010, 124 Stat. 1907.)

cite as: 15 USC 78d-6