[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 496 Introduced in Senate (IS)]







108th CONGRESS
  1st Session
                                 S. 496

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 SENATE OF THE UNITED STATES

                             March 3, 2003

 Mr. Enzi (for himself and Mr. Shelby) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 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,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Accountant, Compliance, and 
Enforcement Staffing Act of 2003''.

SEC. 2. EXCEPTED SERVICE OF ACCOUNTANTS, ECONOMISTS, AND EXAMINER 
              POSITIONS.

    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:
            ``(3) Accountants, economists, and compliance examiner 
        positions 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 the position of that employee becomes 
        excepted from the competitive service under this paragraph 
        shall be considered as continuing in the competitive service as 
        long that employee continues to be employed in that 
        position.''.
                                 <all>