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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 15 U.S.C. § 7243 Forfeiture of certain bonuses and profits us united_states_code code_section 15 COMMERCE AND TRADE 98 PUBLIC COMPANY ACCOUNTING REFORM AND CORPORATE RESPONSIBILITY 7243 15 U.S.C. § 7243 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc15@119-100.zip /us/usc/t15/s7243 data/legal/raw/us/code/title-15/usc15.xml 3c641c61424613d95ed3a1c2acabbb31bebb55552628e33a051f613e37c6d2ac 6982338d990ef19d6b52bff6825089bdd6d0ee1233d9382673faf533decd5059 01165c42061f81a8f2168e025253e05b2eb81cc4eed76d39ae5bc0ba3f3a3bf6 2026-07-04 official
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15 U.S.C. § 7243 - Forfeiture of certain bonuses and profits

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 period.

(b) Commission exemption authority The Commission may exempt any person from the application of subsection (a), as it deems necessary and appropriate.

(Pub. L. 107204, title III, § 304, July 30, 2002, 116 Stat. 778.)