Sarbanes-oxley act of 2002

31 Sec. 
109 
SARBANES-OXLEY ACT OF 2002 
as may be necessary or appropriate to establish and maintain 
the Board. Such fee may also cover costs incurred in the 
Board’s first fiscal year (which may be a short fiscal year), or 
may be levied separately with respect to such short fiscal year. 
(2) A
SSESSMENTS
.—The rules of the Board under para-
graph (1) shall provide for the equitable allocation, assessment, 
and collection by the Board (or an agent appointed by the 
Board) of the fee established under paragraph (1), among 
issuers, in accordance with subsection (g), and among brokers 
and dealers, in accordance with subsection (h), and allowing for 
differentiation among classes of issuers, brokers and dealers, 
as appropriate. 
(3) B
ROKERS AND DEALERS
.—The Board shall begin the al-
location, assessment, and collection of fees under paragraph (2) 
with respect to brokers and dealers with the payment of sup-
port fees to fund the first full fiscal year beginning after the 
date of enactment of the Investor Protection and Securities Re-
form Act of 2010. 
(e) A
NNUAL
A
CCOUNTING
S
UPPORT
F
EE FOR
S
TANDARD
S
ETTING
B
ODY
.—The annual accounting support fee for the standard setting 
body referred to in subsection (a)— 
(1) shall be allocated in accordance with subsection (g), 
and assessed and collected against each issuer, on behalf of the 
standard setting body, by 1 or more appropriate designated col-
lection agents, as may be necessary or appropriate to pay for 
the budget and provide for the expenses of that standard set-
ting body, and to provide for an independent, stable source of 
funding for such body, subject to review by the Commission; 
and 
(2) may differentiate among different classes of issuers. 
(f) L
IMITATION ON
F
EE
.—The amount of fees collected under 
this section for a fiscal year on behalf of the Board or the standards 
setting body, as the case may be, shall not exceed the recoverable 
budget expenses of the Board or body, respectively (which may in-
clude operating, capital, and accrued items), referred to in sub-
section (c)(1). 
(g) A
LLOCATION
OF
A
CCOUNTING
S
UPPORT
F
EES
A
MONG
I
SSUERS
.—Any amount due from issuers (or a particular class of 
issuers) under this section to fund the budget of the Board or the 
standard setting body referred to in subsection (a) shall be allo-
cated among and payable by each issuer (or each issuer in a par-
ticular class, as applicable) in an amount equal to the total of such 
amount, multiplied by a fraction— 
(1) the numerator of which is the average monthly equity 
market capitalization of the issuer for the 12-month period im-
mediately preceding the beginning of the fiscal year to which 
such budget relates; and 
(2) the denominator of which is the average monthly eq-
uity market capitalization of all such issuers for such 12-month 
period. 
(h) A
LLOCATION OF
A
CCOUNTING
S
UPPORT
F
EES
A
MONG
B
RO
-
KERS AND
D
EALERS
.— 
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18:34 Dec 21, 2020
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December 21, 2020 
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As Amended Through P.L. 116-222, Enacted December 18, 2020

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