Sarbanes-oxley act of 2002

32 
Sec. 110 
SARBANES-OXLEY ACT OF 2002 
(1) O
BLIGATION TO PAY
.—Each broker or dealer shall pay 
to the Board the annual accounting support fee allocated to 
such broker or dealer under this section. 
(2) A
LLOCATION
.—Any amount due from a broker or dealer 
(or from a particular class of brokers and dealers) under this 
section shall be allocated among brokers and dealers and pay-
able by the broker or dealer (or the brokers and dealers in the 
particular class, as applicable). 
(3) P
ROPORTIONALITY
.—The amount due from a broker or 
dealer shall be in proportion to the net capital of the broker 
or dealer (before or after any adjustments), compared to the 
total net capital of all brokers and dealers (before or after any 
adjustments), in accordance with rules issued by the Board. 
(i) C
ONFORMING
A
MENDMENTS
.—Section 13(b)(2) of the Securi-
ties Exchange Act of 1934 (15 U.S.C. 78m(b)(2)) is amended— 
(1) in subparagraph (A), by striking ‘‘and’’ at the end; and 
(2) in subparagraph (B), by striking the period at the end 
and inserting the following: ‘‘; and 
‘‘(C) notwithstanding any other provision of law, pay the 
allocable share of such issuer of a reasonable annual account-
ing support fee or fees, determined in accordance with section 
109 of the Sarbanes-Oxley Act of 2002.’’. 
(j) R
ULE OF
C
ONSTRUCTION
.—Nothing in this section shall be 
construed to render either the Board, the standard setting body re-
ferred to in subsection (a), or both, subject to procedures in Con-
gress to authorize or appropriate public funds, or to prevent such 
organization from utilizing additional sources of revenue for its ac-
tivities, such as earnings from publication sales, provided that each 
additional source of revenue shall not jeopardize, in the judgment 
of the Commission, the actual and perceived independence of such 
organization. 
(k) S
TART
-U
P
E
XPENSES OF THE
B
OARD
.—From the unexpended 
balances of the appropriations to the Commission for fiscal year 
2003, the Secretary of the Treasury is authorized to advance to the 
Board not to exceed the amount necessary to cover the expenses of 
the Board during its first fiscal year (which may be a short fiscal 
year).