August 1, 2002
MEMORANDUM FOR THE DIRECTOR, THE FEDERAL BUREAU OF INVESTIGATION
THE DIRECTOR, EXECUTIVE OFFICE OF
UNITED STATES ATTORNEYS
ALL UNITED STATES ATTORNEYS
FROM: THE ATTORNEY GENERAL
SUBJECT: Implementation of the Sarbanes-Oxley Act of 2002
The President this week signed into law the Sarbanes-Oxley
Act of 2002 (the "Act"). The Act provides tough new tools to
expose and punish acts of corporate corruption, promote greater
accountability by financial auditors, and protect small investors
and pension holders. I hereby direct you to review the enclosed
"Field Guidance on New Criminal Authorities Enacted in the
Sarbanes-Oxley Act of 2002 (H.R. 3763) Concerning Corporate Fraud
and Accountability" and take all appropriate steps to implement
fully and expeditiously the provisions of the Act.
The United States Department of Justice will play a critical
role in implementing the Act and in helping to restore confidence
in America's corporations and financial markets. The Act equips
the Department of Justice with new tools to hold white collar
criminals accountable and imposes tough, consistent penalties for
those who would threaten the integrity of our financial markets.
Among other important provisions, the Act imposes new criminal
penalties for securities fraud, attempts or conspiracies to
commit fraud, certifying false financial statements, document
destruction or tampering, and retaliating against corporate
whistleblowers. The Act also contains enhanced penalties for mail
and wire fraud and ERISA violations.
As the President has emphasized, it is vital that all
components of the Department of Justice, including our United
States Attorneys' Offices and Federal Bureau of Investigation
Field Offices, work together to ensure that we take full
advantage of the provisions of this new law to enhance our
prosecution of significant financial crimes.
I thank you for your active participation in our continuing
effort to expose and punish corporate fraud and to restore
confidence in America's financial system.
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