---
kind: "section"
citation: "15 U.S.C. § 78d–7"
title: "15"
title_heading: "Commerce and Trade"
number: "78d–7"
heading: "Triennial report on personnel management"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/15/78d-7"
units:
  - "Chapter 2B — Securities Exchanges"
---

# §78d–7. Triennial report on personnel management

- (a) **Triennial report required—** Once every 3 years, the Comptroller General of the United States shall submit a report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on the quality of personnel management by the [Commission](/usc/15/78c.md?p=a-15).
- (b) **Contents of report—** Each report under [subsection (a)](#a) shall include—
  - (1) an evaluation of—
    - (A) the effectiveness of supervisors in using the skills, talents, and motivation of the employees of the [Commission](/usc/15/78c.md?p=a-15) to achieve the goals of the [Commission](/usc/15/78c.md?p=a-15);
    - (B) the criteria for promoting employees of the [Commission](/usc/15/78c.md?p=a-15) to supervisory positions;
    - (C) the fairness of the application of the promotion criteria to the decisions of the [Commission](/usc/15/78c.md?p=a-15);
    - (D) the competence of the professional staff of the [Commission](/usc/15/78c.md?p=a-15);
    - (E) the efficiency of communication between the units of the [Commission](/usc/15/78c.md?p=a-15) regarding the work of the [Commission](/usc/15/78c.md?p=a-15) (including communication between divisions and between subunits of a division) and the efforts by the [Commission](/usc/15/78c.md?p=a-15) to promote such communication;
    - (F) the turnover within subunits of the [Commission](/usc/15/78c.md?p=a-15), including the consideration of supervisors whose subordinates have an unusually high rate of turnover;
    - (G) whether there are excessive numbers of low-level, mid-level, or senior-level managers;
    - (H) any initiatives of the [Commission](/usc/15/78c.md?p=a-15) that increase the competence of the staff of the [Commission](/usc/15/78c.md?p=a-15);
    - (I) the actions taken by the [Commission](/usc/15/78c.md?p=a-15) regarding employees of the [Commission](/usc/15/78c.md?p=a-15) who have failed to perform their duties and circumstances under which the [Commission](/usc/15/78c.md?p=a-15) has issued to employees a notice of termination; and
    - (J) such other factors relating to the management of the [Commission](/usc/15/78c.md?p=a-15) as the Comptroller General determines are appropriate;
  - (2) an evaluation of any improvements made with respect to the areas described in [paragraph (1)](#b-1) since the date of submission of the previous report; and
  - (3) recommendations for how the [Commission](/usc/15/78c.md?p=a-15) can use the human resources of the [Commission](/usc/15/78c.md?p=a-15) more effectively and efficiently to carry out the mission of the [Commission](/usc/15/78c.md?p=a-15).
- (c) **Consultation—** In preparing the report under [subsection (a)](#a), the Comptroller General shall consult with current employees of the [Commission](/usc/15/78c.md?p=a-15), retired employees and other former employees of the [Commission](/usc/15/78c.md?p=a-15), the Inspector General of the [Commission](/usc/15/78c.md?p=a-15), [persons](/usc/15/78c.md?p=a-9) that have business before the [Commission](/usc/15/78c.md?p=a-15), any union representing the employees of the [Commission](/usc/15/78c.md?p=a-15), private management consultants, academics, and any other source that the Comptroller General deems appropriate.
- (d) **Report by Commission—** Not later than 90 days after the date on which the Comptroller General submits each report under [subsection (a)](#a), the [Commission](/usc/15/78c.md?p=a-15) shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report describing the actions taken by the [Commission](/usc/15/78c.md?p=a-15) in response to the recommendations contained in the report under [subsection (a)](#a).
- (e) **Reimbursements for cost of reports—**
  - (1) **Reimbursements required—** The [Commission](/usc/15/78c.md?p=a-15) shall reimburse the Government Accountability Office for the full cost of making the reports under this section, as billed therefor by the Comptroller General.
  - (2) **Crediting and use of reimbursements—** Such reimbursements shall—
    - (A) be credited to the appropriation account “Salaries and Expenses, Government Accountability Office” current when the payment is received; and
    - (B) remain available until expended.
- (f) **Authority to hire experts—** The Comptroller General of the United States may hire independent consultants with specialized expertise in any area relevant to the duties of the Comptroller General described in this section, in order to assist the Comptroller General in carrying out such duties.

## Source credit

(Pub. L. 111–203, title IX, § 962, July 21, 2010, 124 Stat. 1908.)

## Notes

### Editorial Notes

### Codification

Section was enacted as part of the Investor Protection and Securities Reform Act of 2010 and also as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the Securities Exchange Act of 1934 which comprises this chapter.

### Statutory Notes and Related Subsidiaries

### Effective Date

Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of Title 12, Banks and Banking.

### Definition

For definition of “Commission” as used in this section, see section 5301 of Title 12, Banks and Banking.