We’re talking SOX in this installment – not the Boston Red Sox or even the Chicago White Sox, but the Sarbanes-Oxley Act of 2002. SOX contains two required certifications from public company CEOs and CFOs, Section 302 and 906. The certifications are similar but not identical, particularly because Section 302 required the SEC to engage in rulemaking under the Exchange Act, while Section 906 added a new section to the US federal criminal code.

When must a Section 906 certification accompany an amendment to a periodic report (Form 10-K/A, Form 20-F/A or Form 10-Q/A)?A Section 906 certification must accompany each periodic report that contains financial statements. As a result, “amendments to periodic reports that do not contain financial statements would not require a new Section 906 certification.” Release No. 33-8238 (text accompanying n.154).

What about a Section 302 certification?A Section 302 certification must accompany all amended periodic reports, although the form of certification (set out in Regulation S-K Item 601(b)(31)) may be modified as follows depending on the amendment’s contents:

• Paragraphs 1 (CEO/CFO have read the report) and 2 (no material misstatements or omissions) must accompany every amendment.
• Paragraph 3 (financial statements/information fairly present financial condition) may be omitted if the amendment includes no financial statements or other financial information.
• Paragraphs 4 (controls and procedures) and 5 (disclosure to auditors and audit committee) may be omitted if the amendment includes no disclosure under Regulation S-K Item 307 (regarding disclosure controls and procedures) or Item 308 (regarding internal control over financial reporting).

C&DI 161.01; see also Release No. 33-8238 (note 154 and accompanying text).

Does a Form 8-K require SOX certifications when the report includes financial statements or financial information?

No. Current reports, such as those on Form 8-K and Form 6-K, unlike periodic (i.e., quarterly and annual) reports, “are not covered by the certification requirement.” Release No. 33-8124 (text accompanying note 50); see also Release No. 33-8238 (text accompanying note 142).