[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 658 Reported in House (RH)]
Union Calendar No. 69
108th CONGRESS
1st Session
H. R. 658
[Report No. 108-63, Part I]
To provide for the protection of investors, increase confidence in the
capital markets system, and fully implement the Sarbanes-Oxley Act of
2002 by streamlining the hiring process for certain employment
positions in the Securities and Exchange Commission.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 11, 2003
Mr. Baker (for himself and Mr. Oxley) introduced the following bill;
which was referred to the Committee on Financial Services, and in
addition to the Committee on Government Reform, for a period to be
subsequently determined by the Speaker, in each case for consideration
of such provisions as fall within the jurisdiction of the committee
concerned
April 8, 2003
Reported from the Committee on Financial Services with an amendment
[Strike out all after the enacting clause and insert the part printed
in italic]
April 8, 2003
Referral to the Committee on Government Reform extended for a period
ending not later than June 2, 2003
June 2, 2003
Committee on Government Reform discharged; committed to the Committee
of the Whole House on the State of the Union and ordered to be printed
_______________________________________________________________________
A BILL
To provide for the protection of investors, increase confidence in the
capital markets system, and fully implement the Sarbanes-Oxley Act of
2002 by streamlining the hiring process for certain employment
positions in the Securities and Exchange Commission.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
<DELETED>SECTION 1. SHORT TITLE.</DELETED>
<DELETED> This Act may be cited as the ``Accountant, Compliance, and
Enforcement Staffing Act of 2003''.</DELETED>
<DELETED>SEC. 2. EXCEPTED SERVICE OF ACCOUNTANTS, ECONOMISTS, AND
EXAMINERS.</DELETED>
<DELETED> Section 4(b) of the Securities Exchange Act of 1934 (15
U.S.C. 78d(b)) is amended--</DELETED>
<DELETED> (1) by redesignating paragraph (3) as paragraph
(4); and</DELETED>
<DELETED> (2) by inserting after paragraph (2) the following
new paragraph:</DELETED>
<DELETED> ``(3) Accountants, economists, and compliance
examiners excepted from competitive service.--All accountant,
economist, and securities compliance examiner positions in the
Securities and Exchange Commission shall be excepted from the
competitive service, as defined in section 2102 of title 5,
United States Code. An employee who is in the competitive
service at the time his or her position becomes excepted from
the competitive service under this paragraph shall be
considered as continuing in the competitive service as long as
he or she continues to occupy such position.''.</DELETED>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Accountant, Compliance, and
Enforcement Staffing Act of 2003''.
SEC. 2. ACCOUNTANTS, ECONOMISTS, AND EXAMINERS APPOINTMENTS.
Section 4(b) of the Securities Exchange Act of 1934 (15 U.S.C.
78d(b)) is amended--
(1) by redesignating paragraph (3) as paragraph (4); and
(2) by inserting after paragraph (2) the following new
paragraph:
``(3) Accountants, economists, and compliance examiners
appointments.--
``(A) Appointment authority.--
``(i) This subparagraph applies with
respect to any position of accountant,
economist, and securities compliance examiner
at the Commission that is in the competitive
service.
``(ii) The Commission may appoint
candidates to any position described in clause
(i) in accordance with the statutes, rules, and
regulations governing appointments in the
excepted service, and notwithstanding any
statutes, rules, and regulations governing
appointments in the competitive service.
``(iii) The appointment of a candidate to a
position under authority of this subparagraph
shall not be considered to cause such position
to be converted from the competitive service to
the excepted service.
``(iv) For purposes of this subparagraph,
the terms `competitive service' and `excepted
service' have the respective meanings given
them under chapter 21 of title 5, United States
Code.
``(B) Reports.--No later than 90 days after the end
of fiscal year 2003 (for fiscal year 2003) and 90 days
after the end of fiscal year 2005 (for fiscal years
2004 and 2005), the Commission shall submit a report
with respect to its exercise of the authority granted
by subparagraph (A) during such fiscal years to the
Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing,
and Urban Affairs of the Senate. Such reports shall
describe the changes in the hiring process authorized
by such subparagraph, including relevant information
related to--
``(i) the quality of candidates;
``(ii) the procedures used by the
Commission to select candidates through the
streamlined hiring process;
``(iii) the numbers, types, and grades of
employees hired under the authority;
``(iv) any benefits or shortcomings
associated with the use of the authority;
``(v) the effect of the exercise of the
authority on the hiring of veterans and other
demographic groups; and
``(vi) the way in which managers were
trained in the administration of the
streamlined hiring system.''.
Union Calendar No. 69
108th CONGRESS
1st Session
H. R. 658
[Report No. 108-63, Part I]
_______________________________________________________________________
A BILL
To provide for the protection of investors, increase confidence in the
capital markets system, and fully implement the Sarbanes-Oxley Act of
2002 by streamlining the hiring process for certain employment
positions in the Securities and Exchange Commission.
_______________________________________________________________________
June 2, 2003
Committee on Government Reform discharged; committed to the Committee
of the Whole House on the State of the Union and ordered to be printed