• Improper Influence on Conduct of Audits Unlawful -- SEC Issues Final Rules Implementing Section 303 of the Sarbanes-Oxley Act
  • June 17, 2003
  • Law Firm: Akin Gump Strauss Hauer & Feld LLP - Office
  • On May 20, 2003, the Securities and Exchange Commission (SEC) issued a final rule, as directed by Section 303 of the Sarbanes-Oxley Act of 2002 (the Act), making it unlawful for officers and directors of public companies, and persons acting under their direction, to coerce, manipulate, mislead or fraudulently influence the company's independent auditor for the purpose of rendering the company's financial statements materially misleading.