SEC uses SOX 1103 to freeze payments to officers

SEC uses Sarbanes-Oxley section 1103 to temporarily freeze proposed payments to public company officers:

The U.S. Court of Appeals for the 9th Cir. recently upheld the right of the SEC to seek a temporary freeze on certain funds that a company proposes to pay to a company officer, director or affiliate during a limited time in which the SEC is investigating possible securities fraud. See, SEC v. Yuen (9th Cir. U.S. Court of Appeals).

http://www.ca9.uscourts.gov/ca9/newopinions.nsf/A7FC5F0B39BF868A88256FCB007B1F15/$file/0356129.pdf?openelement

Dave Tate, CPA, Esq.
http://davidtate.us
tateatty@yahoo.com