[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1657 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 1657

 To ensure financial regulations do not harm economic competitiveness, 
nor deprive Americans of due process of law, by repealing provisions of 
  Federal law that hold corporate chief executive officers criminally 
   liable for the content and quality of their companies' financial 
  report, even when the chief executive officers had no intention to 
  engage in criminal behavior, and had taken all reasonable steps to 
                 assure the accuracy of the statement.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 14, 2005

   Mr. Paul introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To ensure financial regulations do not harm economic competitiveness, 
nor deprive Americans of due process of law, by repealing provisions of 
  Federal law that hold corporate chief executive officers criminally 
   liable for the content and quality of their companies' financial 
  report, even when the chief executive officers had no intention to 
  engage in criminal behavior, and had taken all reasonable steps to 
                 assure the accuracy of the statement.

    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 ``Due Process and Economic 
Competitiveness Restoration Act ''.

SEC. 2. REPEAL.

    Section 404 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7262) is 
repealed.
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