USC - Funding

View all text of Subchapter I [§ 7211 - § 7220]

§ 7219. Funding

(a) In general

(b) Annual budgets

(1) Recoverable budget expenses

(2) Funds generated from the collection of monetary penalties

(d) Annual accounting support fee for the Board

(1) Establishment of fee

(2) Assessments

(3) Brokers and dealers

(e) Annual accounting support fee for standard setting body

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 collection agents, as may be necessary or appropriate to pay for the budget and provide for the expenses of that standard setting 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) Limitation on fee

(g) Allocation of accounting support fees among issuers

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 allocated among and payable by each issuer (or each issuer in a particular 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 immediately preceding the beginning of the fiscal year to which such budget relates; and

(2) the denominator of which is the average monthly equity market capitalization of all such issuers for such 12-month period.

(h) Allocation of accounting support fees among brokers and dealers

(1) Obligation to pay

(2) Allocation

(3) Proportionality

(i) Omitted

(j) Rule of construction

(k) Start-up expenses of the Board

(Pub. L. 107–204, title I, § 109, July 30, 2002, 116 Stat. 769; Pub. L. 111–203, title IX, § 982(h), July 21, 2010, 124 Stat. 1930.)