---
kind: "section"
citation: "15 U.S.C. § 7266"
title: "15"
title_heading: "Commerce and Trade"
number: "7266"
heading: "Enhanced review of periodic disclosures by issuers"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/7266"
units:
  - "Chapter 98 — Public Company Accounting Reform and Corporate Responsibility"
  - "Subchapter IV — Enhanced Financial Disclosures"
---

# §7266. Enhanced review of periodic disclosures by issuers

- (a) **Regular and systematic review—** The [Commission](/usc/15/7201.md?p=6) shall review disclosures made by [issuers](/usc/15/7201.md?p=7) reporting under [section 78m(a) of this title](/usc/15/78m.md?p=a) (including reports filed on Form 10–K), and which have a class of [securities](/usc/15/7201.md?p=14) listed on a national [securities](/usc/15/7201.md?p=14) exchange or traded on an automated quotation facility of a national [securities](/usc/15/7201.md?p=14) association, on a regular and systematic basis for the protection of investors. Such review shall include a review of an [issuer](/usc/15/7201.md?p=7)’s financial statement.
- (b) **Review criteria—** For purposes of scheduling the reviews required by [subsection (a)](#a), the [Commission](/usc/15/7201.md?p=6) shall consider, among other factors—
  - (1) [issuers](/usc/15/7201.md?p=7) that have issued material restatements of financial results;
  - (2) [issuers](/usc/15/7201.md?p=7) that experience significant volatility in their stock price as compared to other [issuers](/usc/15/7201.md?p=7);
  - (3) [issuers](/usc/15/7201.md?p=7) with the largest market capitalization;
  - (4) emerging companies with disparities in price to earning ratios;
  - (5) [issuers](/usc/15/7201.md?p=7) whose operations significantly affect any material sector of the economy; and
  - (6) any other factors that the [Commission](/usc/15/7201.md?p=6) may consider relevant.
- (c) **Minimum review period—** In no event shall an [issuer](/usc/15/7201.md?p=7) required to file reports under section [78m(a)](/usc/15/78m.md?p=a) or [78o(d)](/usc/15/78o.md?p=d) of this title be reviewed under this section less frequently than once every 3 years.

## Source credit

(Pub. L. 107–204, title IV, § 408, July 30, 2002, 116 Stat. 790.)