‘‘(ii) are established or adopted by the 
Board under section 103(a), or are pro-
mulgated as rules of the Commission. 
‘‘(4) BROKER.—The term ‘broker’ means a 
broker (as such term is defined in section 3(a)(4) of 
the Securities Exchange Act of 1934 (15 U.S.C. 
78c(a)(4))) that is required to file a balance sheet, 
income statement, or other financial statement 
under section 17(e)(1)(A) of such Act (15 U.S.C. 
78q(e)(1)(A)), where such balance sheet, income 
statement, or financial statement is required to be 
certified by a registered public accounting firm. 
‘‘(5) DEALER.—The term ‘dealer’ means a 
dealer (as such term is defined in section 3(a)(5) of 
the Securities Exchange Act of 1934 (15 U.S.C. 
78c(a)(5))) that is required to file a balance sheet, 
income statement, or other financial statement 
under section 17(e)(1)(A) of such Act (15 U.S.C. 
78q(e)(1)(A)), where such balance sheet, income 
statement, or financial statement is required to be 
certified by a registered public accounting firm. 
‘‘(6) SELF-REGULATORY
ORGANIZATION.—The 
term ‘self-regulatory organization’ has the same 
meaning as in section 3(a)(26) of the Securities Ex-
change Act of 1934 (15 U.S.C. 78c(a)(26)).’’. 
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(b) ESTABLISHMENT AND ADMINISTRATION OF THE 
PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD.— 
Section 101 of such Act is amended— 
(1) by striking ‘‘issuers’’ each place it appears 
and inserting ‘‘issuers, brokers, and dealers’’; 
(2) in subsection (a), by striking ‘‘public com-
panies’’ and inserting ‘‘companies’’; and 
(3) in subsection (a), by striking ‘‘for compa-
nies the securities of which are sold to, and held by 
and for, public investors’’. 
(c) REGISTRATION WITH THE BOARD.—Section 102 
of such Act is amended— 
(1) by striking ‘‘Beginning 180 days after the 
date of the determination of the Commission under 
section 101(d), it’’ and inserting ‘‘It’’; 
(2) in subsections (a) and (b)(2)(G), by striking 
‘‘issuer’’ each place it appears and inserting ‘‘issuer, 
broker, or dealer’’; and 
(3) by striking ‘‘issuers’’ and inserting ‘‘issuers, 
brokers, and dealers’’. 
(d) AUDITING AND INDEPENDENCE.—Section 103(a) 
of such Act is amended— 
(1) in paragraph (1), by striking ‘‘and such eth-
ics standards’’ and inserting ‘‘such ethics standards, 
and such independence standards’’; 
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(2) in paragraph (2)(A)(iii), by striking ‘‘de-
scribe in each audit report’’ and inserting ‘‘in each 
audit report for an issuer, describe’’; and 
(3) 
in 
paragraph 
(2)(B)(i), 
by 
striking 
‘‘issuers’’ and inserting ‘‘issuers, brokers, and deal-
ers’’. 
(e) INSPECTIONS OF REGISTERED PUBLIC ACCOUNT-
ING FIRMS.—Section 104 of such Act is amended— 
(1) in subsection (a), by striking ‘‘issuers’’ and 
inserting ‘‘issuers, brokers, and dealers’’; 
(2) in subsection (b)(1)(A), by inserting before 
the semicolon the following ‘‘or more than 100 bro-
kers and dealers’’; and 
(3) in subsection (b)(1)(B), by striking ‘‘100 or 
fewer issuers’’ and inserting ‘‘issuers, brokers, or 
dealers, but is not described in subparagraph (A)’’. 
(f) 
INVESTIGATIONS
AND
DISCIPLINARY
PRO-
CEEDINGS.—Section 105(c)(7)(B) of such Act is amend-
ed— 
(1) by striking ‘‘any issuer’’ each place it ap-
pears and inserting ‘‘any issuer, broker, or dealer’’; 
and 
(2) by striking ‘‘an issuer under this sub-
section’’ and inserting ‘‘a registered public account-
ing firm under this subsection’’. 
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(g) FOREIGN PUBLIC ACCOUNTING FIRMS.—Section 
106 of such Act is amended— 
(1) by striking ‘‘issuer’’ and inserting ‘‘issuer, 
broker, or dealer’’; and 
(2) by striking ‘‘issuers’’ and inserting ‘‘issuers, 
brokers, or dealers’’. 
(h) FUNDING.—Section 109 of such Act is amend-
ed— 
(1) in subsection (c)(2), by striking ‘‘subsection 
(i)’’ and inserting ‘‘subsection (j)’’; 
(2) in subsection (d)(2), by striking ‘‘allowing 
for differentiation among classes of issuers, as ap-
propriate’’ and inserting ‘‘and among brokers and 
dealers that are not issuers, in accordance with sub-
section (h), and allowing for differentiation among 
classes of issuers and brokers and dealers, as appro-
priate’’; 
(3) by redesignating subsections (h), (i), and (j) 
as subsections (i), (j), and (k), respectively; and 
(4) by inserting after subsection (g) the fol-
lowing new subsection: 
‘‘(h) ALLOCATION OF ACCOUNTING SUPPORT FEES 
AMONG BROKERS AND DEALERS.— 
‘‘(1) IN GENERAL.—Any amount due from bro-
kers and dealers that are not issuers (or a particular 
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class of such brokers and dealers) under this section 
to fund the budget of the Board shall be allocated 
among and payable by such brokers and dealers (or 
such brokers and dealers in a particular class, as ap-
plicable). A broker or dealer’s allocation shall be in 
proportion to the broker or dealer’s net capital com-
pared to the total net capital of all brokers and deal-
ers that are not issuers, in accordance with the rules 
of the Board. 
‘‘(2) OBLIGATION
TO
PAY.—Every broker or 
dealer shall pay the share of a reasonable annual ac-
counting support fee or fees allocated to such broker 
or dealer under this section.’’. 
(i) REFERRAL OF INVESTIGATIONS TO A SELF-REGU-
LATORY ORGANIZATION.—Section 105(b)(4)(B) of the 
Sarbanes-Oxley Act of 2002 is amended— 
(1) by redesignating clauses (ii) and (iii) as 
clauses (iii) and (iv), respectively; and 
(2) by inserting after clause (i) the following 
new clause: 
‘‘(ii) to a self-regulatory organization, 
in the case of an investigation that con-
cerns an audit report for a broker or deal-
er that is subject to the jurisdiction of 
such self-regulatory organization;’’. 
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