cover all operations, and require the CFTC and the Federal Energy Regulatory Commission to meet quarterly and discuss how derivative energy markets are functioning. [S 14, Vote 218, 6/11/03; Oil Daily, 6/11/03] XXXX Voted to Overhaul Regulation of the Accounting Industry. In July 2002, XXXX voted for a bill that would require more complete disclosure of corporate finances and overhaul regulation of the accounting industry. It would establish a new oversight board, funded by fees on publicly traded companies, to police accounting firms. The agreement would forbid firms from providing investment banking, management consulting and other services for publicly traded companies. It would require additional corporate reporting and disclosure requirements. In cases of security fraud, it would impose civil monetary penalties and require executives engaged in financial misconduct to pay back bonuses and profits. The money would be placed in a fund for defrauded investors. It also would bar executive loans. The agreement would create a criminal penalty for securities fraud and obstruction of justice involving document shredding and require top corporate executives to certify company financial statements. [HR 3763, Vote 192, 7/25/02] XXXX Voted for Greater Accountability for SEC Firms. In July 2002, XXXX voted for a bill that would require more complete disclosure of corporate finances and overhaul regulation of the accounting industry. The bill would establish a new oversight board to police accounting firms, and forbid firms from providing investment banking, management consulting and other services for publicly traded companies. It would create new criminal penalties for shareholder fraud and obstruction of justice involving document shredding and require chief executives and chief financial officers to attest to the accuracy of financial statements included in SEC filings. [S 2673, Vote 176, 7/15/02] XXXX Voted to Increase Ethics Requirement for Attorneys Representing SEC Firms. In July 2002, XXXX voted for an amendment that would require the SEC to establish new rules setting professional standards of conduct for attorneys representing public companies who appear before the SEC, including a rule requiring an attorney to report evidence of a material violation of securities law to the company's chief legal counsel or chief executive officer, or to the board of directors if necessary. [S 2673, Vote 175, 7/15/02] XXXX Voted to Pass the Corporate Reform Bill, Which Stiffened Penalties For Fraud And Tightened Oversight Of The Accounting Industry. In 2002, XXXX voted for a corporate reform bill that created stiff penalties for business fraud and tightened oversight of the accounting industry. John McCain and Carl Levin, the only two dissenters to the bill, opposed the bill after their efforts to add other reform measures, such as a proposal that would require companies to count executives’ stock options as an expense against earnings, were rebuffed. The vote was on a motion to invoke cloture on the bill. [S 2673, Vote 173, 7/12/02; Associated Press, 7/12/02] XXXX Voted to Curb Attorney Solicitation. In July 2002, XXXX voted for an amendment that would require attorneys to make a written disclosure of potential fees and other matters before retention by a client. It also would prohibit unsolicited communications concerning a potential civil action for personal injury or wrongful death until 45 days following the incident. Violators would be subject to a maximum penalty of $5,000 for each violation. This was an amendment to the Edwards amendment, which would require the Securities and Exchange Commission (SEC) to establish new rules setting professional standards of conduct for attorneys representing public companies who appear before the SEC, including a rule requiring an attorney to report evidence of a material violation of securities law to the company's chief legal counsel or chief executive officer, or to the board of directors if necessary. [S 2673, Vote 172, 7/11/02] XXXX Voted to Increase Penalties for Corporate Wrongdoing. In July 2002, XXXX voted for an amendment that would increase the maximum sentences for corporate wrongdoing from five years to 10 years. It also would allow the government to charge obstruction against individuals who acted alone, even if tampering took place prior to a grand jury subpoena issuance. It would allow the Securities and Exchange Commission (SEC) to seek an order in federal court imposing a 45 day freeze on "extraordinary" payments to corporate executives and request the Sentencing Commission to adopt stronger penalties for fraud when the crime is committed by a corporate officer or a corporate director. [S 2673, Vote 171, 7/10/02] 23