PUBLIC LAW 107-204-JULY 30,2002 116STAT.759 and en transmitted,in appropriate detail to the Commission regi detail to the public(sub 》 ems de (h)IN o the firm tobtance of pa (o B criticisms or defect he Board tha t ha 150e5.Ce7 Exchange for poses of section 7 of States (3)TIMING ough the under (A)or()p SEC.105.INVESTIGATIONS AND DISCIPLINARY PROCEEDINGS. 15USC7215. subject Establishment registered public accounting firms a nd asso 86 1 AUTHORIT the Bo of the Bo may co ndu wi rany act or ach firm may violat of the 8h8ecuriti to,including the ules of the Commis PUBLIC LAW 107–204—JULY 30, 2002 116 STAT. 759 (1) transmitted, in appropriate detail, to the Commission and each appropriate State regulatory authority, accompanied by any letter or comments by the Board or the inspector, and any letter of response from the registered public accounting firm; and (2) made available in appropriate detail to the public (sub￾ject to section 105(b)(5)(A), and to the protection of such con￾fidential and proprietary information as the Board may deter￾mine to be appropriate, or as may be required by law), except that no portions of the inspection report that deal with criti￾cisms of or potential defects in the quality control systems of the firm under inspection shall be made public if those criticisms or defects are addressed by the firm, to the satisfac￾tion of the Board, not later than 12 months after the date of the inspection report. (h) INTERIM COMMISSION REVIEW.— (1) REVIEWABLE MATTERS.—A registered public accounting firm may seek review by the Commission, pursuant to such rules as the Commission shall promulgate, if the firm— (A) has provided the Board with a response, pursuant to rules issued by the Board under subsection (f), to the substance of particular items in a draft inspection report, and disagrees with the assessments contained in any final report prepared by the Board following such response; or (B) disagrees with the determination of the Board that criticisms or defects identified in an inspection report have not been addressed to the satisfaction of the Board within 12 months of the date of the inspection report, for purposes of subsection (g)(2). (2) TREATMENT OF REVIEW.—Any decision of the Commis￾sion with respect to a review under paragraph (1) shall not be reviewable under section 25 of the Securities Exchange Act of 1934 (15 U.S.C. 78y), or deemed to be ‘‘final agency action’’ for purposes of section 704 of title 5, United States Code. (3) TIMING.—Review under paragraph (1) may be sought during the 30-day period following the date of the event giving rise to the review under subparagraph (A) or (B) of paragraph (1). SEC. 105. INVESTIGATIONS AND DISCIPLINARY PROCEEDINGS. (a) IN GENERAL.—The Board shall establish, by rule, subject to the requirements of this section, fair procedures for the investiga￾tion and disciplining of registered public accounting firms and asso￾ciated persons of such firms. (b) INVESTIGATIONS.— (1) AUTHORITY.—In accordance with the rules of the Board, the Board may conduct an investigation of any act or practice, or omission to act, by a registered public accounting firm, any associated person of such firm, or both, that may violate any provision of this Act, the rules of the Board, the provisions of the securities laws relating to the preparation and issuance of audit reports and the obligations and liabilities of account￾ants with respect thereto, including the rules of the Commission issued under this Act, or professional standards, regardless of how the act, practice, or omission is brought to the attention of the Board. Establishment. 15 USC 7215. VerDate 11-MAY-2000 18:56 Aug 07, 2002 Jkt 099139 PO 00204 Frm 00015 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL204.107 APPS24 PsN: PUBL204