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).