The name of a DATA step character variable whose value is a text expression or a SAS statement to be generated. Do not enclose the name of the DATA step variable in quotation marks. A character expression that is resolved by the DATA step to a macro text expression or a SAS statement.
This means, for example, that any foreign private issuer that has listed its securities in the US, or issued securities to the public in the US whether or not listed (such as in a registered exchange offer for high-yield bonds) is subject to the Sarbanes-Oxley Act.
History. The July 2002 enactment of the Sarbanes Oxley Act, co-authored by U.S. Sen. Paul Sarbanes of Maryland and U.S. Rep. Michael Oxley of Ohio, followed a series of large public company failures that included Enron, Tyco and WorldCom.arbanes-Oxley had an intended two-part effect on the market. First, the authors of the bill intended to give investors confidence in a previously broken market.