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.
In 2002, Congress passed the Sarbanes-Oxley Act, which established new laws to protect investors against rampant corporate fraud. However, as subsequent events made clear, hearing the law isn't the same as obeying the law.