At the end of the bill, insert the following: \ SEC. 5. CONFIRMATION OF S.E.C. AUTHORITY. \ Nothing in this Act shall be construed to impair or limit the authority of the Commission to establish accounting principles or standards on its own initiative as the Commission deems necessary in the public interest or for the protection of investors.

Purpose:

An amendment numbered three printed in House Report 108-616 to preserve the authority of the Securities and Exchange Commission (SEC) to establish accounting principles or standards on its own initiative as the SEC deems necessary in the public interest or for the protection of investors. It is intended to preserve the SEC's ability to prescribe the contents of public filings.

House Amendment Code:

(A003)

House Tally Clerks use this code to manage amendment information.