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, mar- ket regulation, and investment
management.".
About OpenPages
OpenPages is the leading provider of Governance, Compliance and Risk
Management solutions
for Sarbanes-Oxley Compliance, Financial Controls Management, General
Compliance Management, Operational
Risk Management and IT
Governance.
The company’s solutions provide the visibility, decision support and
control to improve accountability, better manage risk, achieve compliance
with numerous regulations, improve operational performance and align strategies
to ensure better results.
Market-leading corporations in financial services, manufacturing, telecommunications,
media/entertainment, retail/consumer, energy, high technology, health services
and life sciences rely on OpenPages to help them achieve sustainable governance,
risk and compliance management -- enabling them to become well-governed businesses.
Founded in 1996, the company is headquartered in Waltham, Massachusetts, with
regional offices throughout North America and international offices in London, Munich, Paris, Tokyo and Hong Kong.
For more information on OpenPages' suite of business governance software solutions
or to register for an online demonstration, please call 781-693-5999 or visit
www.openpages.com.
|
