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SEC site to track compliance
Agency plans to launch Web site listing executives who do and don't confirm financial accuracy.
July 29, 2002: 9:12 AM EDT

NEW YORK (CNN/Money) - The Securities and Exchange Commission confirmed Monday it plans to start publicizing the names of CEOs and chief financial officers who have or have not complied with a new rule requiring them to personally vouch for their companies' financial statements.

A new Web site keeping tabs on the officers could be launched as early as Monday.

Last month the SEC ordered the top executives of 947 large companies to sign a statement that their companies' financial statements are accurate "to the best of my knowledge" and to fill out forms explaining why it was not the case if they couldn't sign the statement.

The SEC is in the process of adopting a rule that extends the certification requirement to executive and finance officers at the approximately 15,000 public companies it oversees.

For many of the companies, the sworn statement for the most recent quarterly financial results are due Aug. 14. The executives of Troy, Mich.-based Delphi Corp. were the first to comply with the rule two weeks ago.

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