Artículo Sec. 304 — FORFEITURE OF CERTAIN BONUSES AND PROFITS. Sec. 304 — FORFEITURE OF CERTAIN BONUSES AND PROFITS

Sec. 304 — FORFEITURE OF CERTAIN BONUSES AND PROFITS SEC. 304. FORFEITURE OF CERTAIN BONUSES AND PROFITS. (a) Additional Compensation Prior to Noncompliance With Commission Financial Reporting Requirements.--If an issuer is required to prepare an accounting restatement due to the material noncompliance of the issuer, as a result of misconduct, with any financial reporting requirement under the securities laws, the chief executive officer and chief financial officer of the issuer shall reimburse the issuer for-- (1) any bonus or other incentive-based or equity-based compensation received by that person from the issuer during the 12-month period following the first public issuance or filing with the Commission (whichever first occurs) of the financial document embodying such financial reporting requirement; and (2) any profits realized from the sale of securities of the issuer during that 12-month period. (b) Commission Exemption Authority.--The Commission may exempt any person from the application of subsection (a), as it deems necessary and appropriate.