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Sarbanes Oxley
Act |
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TITLE
VI—COMMISSION RESOURCES
AND AUTHORITY
SEC. 601.
AUTHORIZATION OF APPROPRIATIONS.
Section 35 of
the Securities Exchange Act of 1934 (15 U.S.C.
78kk) is
amended to read as follows:
‘‘SEC. 35.
AUTHORIZATION OF APPROPRIATIONS.
‘‘In addition
to any other funds authorized to be
appropriated
to the
Commission, there are authorized to be
appropriated to
carry out the
functions, powers, and duties of the
Commission,
$776,000,000
for fiscal year 2003, of which—
‘‘(1)
$102,700,000 shall be available to fund
additional compensation,
including
salaries and benefits, as authorized in
the Investor
and Capital Markets Fee Relief Act (Public Law
107–123; 115
Stat. 2390 et seq.);
‘‘(2)
$108,400,000 shall be available for
information technology,
security
enhancements, and recovery and mitigation
activities in
light of the terrorist attacks of September
11,
2001; and
‘‘(3)
$98,000,000 shall be available to add not
fewer than
an additional
200 qualified professionals to provide
enhanced
oversight of
auditors and audit services required by the
Federal
securities
laws, and to improve Commission investigative
and
disciplinary
efforts with respect to such auditors and
services,
as well as
for additional professional support staff
necessary
to strengthen
the programs of the Commission involving Full
Disclosure
and Prevention and Suppression of Fraud, risk
management,
industry technology review, compliance,
inspections,
examinations,
market regulation, and investment
management.’’.
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