专业文献阅读 中英版107-109.ppt

1、SEC. 107. COMMISSION OVERSIGHT OF THE BOARD.第107节 SEC对委员会的监管,(a) GENERAL OVERSIGHT RESPONSIBILITY.The Commission shall have oversight and enforcement authority over the Board, as provided in this Act. (a) 通常意义的监管责任根据本法案的规定，SEC应有权对委员会进行监管和强制执行。,The provisions of section 17(a)(1) of the Securities Exc

2、hange Act of 1934 (15 U.S.C. 78q(a)(1), and of section 17(b)(1) of the Securities Exchange Act of 1934 (15 U.S.C. 78q(b)(1) shall apply to the Board as fully as if the Board were a registered securities association for purposes of those sections 17(a)(1) and 17(b)(1). 根据1934年的证券交易法17(a)(1)及17(b)(1)的

3、规定，应将委员会作为一个“证券执业机构”，且完全适用于上述17(a)(1) 及17(b)(1)的规定。,(b) RULES OF THE BOARD. (1) DEFINITION.In this section, the term proposed rulemeans any proposed rule of the Board, and any modification of any such rule. (b) 委员会的规定 (1) 定义本部分中，“提议的规定”指委员会提出的任何规定和这些规定的修订。,(2) PRIOR APPROVAL REQUIRED. 要求预先同意 No rule

4、 of the Board shall become effective without prior approval of the Commission in accordance with this section, other than as provided in section 103(a)(3)(B) with respect to initial or transitional standards. 按照本部分，未预先经SEC同意，委员会颁布的任何规定都将是无效的，除非这些规定是按第103部分制定出来，用作最初或过渡性的准则。,(3) APPROVAL CRITERIA.The

5、Commission shall approve a proposed rule, if it finds that the rule is consistent with the requirements of this Act and the securities laws, or is necessary or appropriate in the public interest or for the protection of investors. (3) 同意的条件SEC如果认为规定与本法案以及证券法规相一致，或可以促进对公众及投资者利益的保护，将对此予以同意。,(4) PROPOS

6、ED RULE PROCEDURES.The provisions of paragraphs (1) through (3) of section 19(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78s(b) shall govern the proposed rules of the Board, as fully as if the Board were aregistered securities association for purposes of that section 19(b), except that, fo

7、r purposes of this paragraph (4) 提议的规定程序1934年证券交易法第19(b)部分第1段至第3段中的条款适用于委员会提议的规定，其全面性就类似于视同委员会是一个为第19部分目的的“证券执业机构”，除非为了如下目的：,(A) the phrase consistent with the requirements of this title and the rules and regulations thereunder applicable to such organization in section 19(b)(2) of that Act shall be

8、 deemed to read consistent with the requirements of title I of the Sarbanes-Oxley Act of 2002, (A) 该法案第19(b)部分中的短语“与本规定及据此制定的适用于这类组织的规定与规章的要求相一致”应被理解为“与2002年萨班斯奥克斯利法案标题I下的要求，,and the rules and regulations issued thereunder applicable to such organization, or as necessary or appropriate in the public

9、 interest or for the protection of investors; and 据此颁布的适用于这类组织以及有利于保护公众及投资者利益的规定与规章相一致”；,(B) the phrase otherwise in furtherance of the purposes of this title in section 19(b)(3)(C) of that Act shall be deemed to read otherwise in furtherance of the purposes of title I of the Sarbanes-Oxley Act of 2

10、002. (B) 该法案第19(b)(3)(c)部分中短语“此外为促进该标题下的目的”应被理解为“此外为促进2002年萨班斯奥克斯利法案标题I下的目的”。,(5) COMMISSION AUTHORITY TO AMEND RULES OF THE .The provisions of section 19(c) of the Securities BOARD Exchange Act of 1934 (15 U.S.C. 78s(c) shall govern the abrogation, deletion, or addition to portions of the rules of

11、the Board by the Commission as fully as if the Board were a registered securities association for purposes of that section 19(c), (5)SEC有权修订委员会的规定1934年证券交易法第19(c)部分的条款应适用于SEC对委员会规定的废除、删节或增补，SEC在这一方面拥有充分的权力，委员会类似于基于第19(c)部分的“证券执业机构”，,except that the phrase to conform its rules to the requirements of

12、this title and the rules and regulations thereunder applicable to such organization, or otherwise in furtherance of the purposes of this title in section 19(c) of that Act shall, for purposes of this paragraph, be deemed to read to assure the fair administration of the Public Company Accounting Over

13、sight Board, conform the rules promulgated by that Board to the requirements of title I of the Sarbanes-Oxley Act of 2002, or otherwise further the purposes of that Act, the securities laws, and the rules and regulations thereunder applicable to that Board. 除了该法案第19(c)部分短语“为确保其规定与该标题的要求一致，据此制定的适用于这类

14、组织的规定与规章，或为促进该标题的目的”，基于本段的目的，应被理解为“确保对公众公司会计监察委员会的管理，保障该委员会制定的规定与2002年萨班斯奥克斯利法案标题I下的要求一致，或促进本法案、证券法规以及据此制定的适用于该委员会的规定、规章的目的”。,(c) COMMISSION REVIEW OF DISCIPLINARY ACTION TAKEN BY BOARD. (c) SEC对委员会采取的监管行为的复核 (1) NOTICE OF SANCTION.The Board shall promptly file notice with the Commission of any fina

15、l sanction on any registered public accounting firm or on any associated person thereof, in such form and containing such information as the Commission, by rule, may prescribe. (1) 关于制裁的通知委员会一旦就任何公众会计师事务所或与其有关联的人作出最终处罚，应采用SEC规定的方式，迅速通知SEC。,(2) REVIEW OF SANCTIONS.The provisions of sections 19(d)(2)

16、and 19(e)(1) of the Securities Exchange Act of 1934 (15 U.S.C. 78s (d)(2) and (e)(1) shall govern the review by the Commission of final disciplinary sanctions imposed by the Board (including sanctions imposed under section 105(b)(3) of this Act for noncooperation in an investigation of the Board), (

17、2) 关于制裁的复核按1934年证券交易法第19(d)(2)和19(e)(1)部分的规定，SEC有权复核委员会提出的最终处罚，,as fully as if the Board were a self-regulatory organization and the Commission were the appropriate regulatory agency for such organization for purposes of those sections 19(d)(2) and 19(e)(1), except that, for purposes of this paragra

18、ph SEC对此拥有充分的权力，委员会类似于自律组织，而SEC是实现第19(d)(20和19(e)(1)部分的目的，对这类组织合适的监管机构，除了为本段的目的：,(A) section 105(e) of this Act (rather than that section19(d)(2) shall govern the extent to which application for,or institution by the Commission on its own motion of, review of any disciplinary action of the Board ope

19、rates as a stay of such action; (A) 该法案第105(e)部分规定了有关程度，涉及经申请或SEC自身的提议，将对委员会监管行为的复核作为主要的举措之一；,(B) references in that section 19(e)(1) to membersof such an organization shall be deemed to be references to registered public accounting firms; (B) 第19(e)提到的这类组织的“成员”应被理解为注册会计师事务所；,(C) the phrase consiste

20、nt with the purposes of this title in that section 19(e)(1) shall be deemed to read consistent with the purposes of this title and title I of the Sarbanes-Oxley Act of 2002; (C) 第19(e)(1)部分短语“与该标题的目的相一致”应被理解为“与该标题以及2002年萨班斯奥克斯莱法案标题I相一致”；,(D) references to rules of the Municipal Securities Rule-makin

21、g Board in that section 19(e)(1) shall not apply; and (D) 第19(e)(1)部分提及的市政证券规则制定委员会的规定不适用；,(E) the reference to section 19(e)(2) of the Securities Exchange Act of 1934 shall refer instead to section 107(c)(3) of this Act. (E) 提及34年证券交易法第19(e)(2)部分应改为提及本法案第107(c)(3)部分。,(3) COMMISSION MODIFICATION AUT

22、HORITY.The Commission may enhance, modify, cancel, reduce, or require the remission of a sanction imposed by the Board upon a registered public accounting firm or associated person thereof, if the Commission, having due regard for the public interest and the protection of investors, finds, after a p

23、roceeding in accordance with this subsection, that the sanction (3)SEC修订权SEC可以增加、修订、删节、减少或免除委员会对注册会计师事务所及其关联人提议的处罚，如果SEC从保护公众及投资者利益出发，在进行了调查之后，认为该处罚：,(A) is not necessary or appropriate in furtherance of this Act or the securities laws; or (A)根据本法案或其他证券法规，是不必要和不合适的；,(B) is excessive, oppressive, ina

24、dequate, or otherwise not appropriate to the finding or the basis on which the sanction was imposed. (B)相对违规事实而言是过重的、不够的或不适当的。,(d) CENSURE OF THE BOARD; OTHER SANCTIONS.(d)批评委员会、其他处罚,(1) RESCISSION OF BOARD AUTHORITY.The Commission,by rule, consistent with the public interest, the protection of inve

25、stors, and the other purposes of this Act and the securities laws, may relieve the Board of any responsibility to enforce compliance with any provision of this Act, the securities laws, the rules of the Board, or professional standards. (1) 减少委员会的职责SEC可以根据法规的规定，为保护公众及投资者的利益，以及本法案和其他证券法规的其他目的，减少委员会的职

26、责，以加强对本法案、证券法规、委员会的规定以及专业准则的遵循。,(2) CENSURE OF THE BOARD; LIMITATIONS.The Commission may, by order, as it determines necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of this Act or the securities laws, censure or impose lim

27、itations upon the activities, functions, and operations of the Board, if the Commission finds,on the record, after notice and opportunity for a hearing, that the Board (2) 批评委员会；限制SEC一旦从保护公众及投资者利益，或促进对本法案、证券法律的执行出发，认为此举必要或合适时，可以根据法规的规定，批评或限制委员会的行动、功能和运作。这种情况发生在SEC给与通知与听证机会后，发现委员会：,(A) has violated o

28、r is unable to comply with any provision of this Act, the rules of the Board, or the securities laws; or (A)违反了或不能遵循本法案、委员会自身以及证券法规的规定；,(B) without reasonable justification or excuse, has failed to enforce compliance with any such provision or rule, or any professional standard by a registered publi

29、c accounting firm or an associated person thereof. (B)没有合理的判断或理由，未能促使已注册会计师事务所及其关联人遵循规定和专业准则。,(3) CENSURE OF BOARD MEMBERS; REMOVAL FROM OFFICE.The Commission may, as necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of this

30、 Act or the securities laws, removefrom office or censure any member of the Board, if the Commission finds, on the record, after notice and opportunity for a hearing, that such member (3) 批评委员会成员；开除其成员SEC一旦从保护公众及投资者利益，或促进对本法案、证券法律的执行出发，认为此举必要或合适时，可以批评或开除委员会的成员。这种情况发生在SEC给与通知与听证机会后，发现该成员：,(A) has wil

31、lfully violated any provision of this Act,the rules of the Board, or the securities laws; (A) 有意违反本法案、委员会的规定以及证券法规；,(B) has willfully abused the authority of that member;or (B) 有意滥用委员会成员的权力；,(C) without reasonable justification or excuse, has failed to enforce compliance with any such provision or r

32、ule, or any professional standard by any registered public accounting firm or any associated person thereof. (C) 没有合理的判断或理由，未能促使注册会计师事务所及其关联人遵循规定和专业准则。,SEC. 108. ACCOUNTING STANDARDS.第108节 会计准则,(a) AMENDMENT TO SECURITIES ACT OF 1933.Section 19 of the Securities Act of 1933 (15 U.S.C. 77s) is amende

33、d (a) 对1933年证券法的修订1933年证券法第19部分作了如下修订：,(1) by redesignating subsections (b) and (c) as subsections(c) and (d), respectively; and (1) 将(b)和(c)部分分别作为(c)和(d)部分；,(2) by inserting after subsection (a) the following: (b) RECOGNITION OF ACCOUNTING STANDARDS. (2) 在(a)部分后插入如下(b)部分： (b) 会计准则的确认,(1) IN GENERAL

34、.In carrying out its authority under subsection (a) and under section 13(b) of the Securities Exchange Act of 1934, the Commission may recognize, as generally accepted for purposes of the securities laws, any accounting principles established by a standard setting body (1) 总则由于1934年证券交易法(a)、(b)部分赋予其

35、相应的权力，SEC可以按照证券法规的规定，确认准则制定机构制定的会计准则作为“公认会计原则”，该制定机构：,(A) that(i) is organized as a private entity; (ii) has, for administrative and operational purposes, a board of trustees (or equivalent body) serving in the public interest, the majority of whom are not,concurrent with their service on such board

36、, and have not been during the 2-year period preceding such service, associated persons of any registered public accounting firm; (A) (i) 是一个民间团体； (ii) 为了管理与运营的目的，有一个委员会服务于公众目的，该委员会的大多数成员在任职期间以及此前2年内不是任何注册会计师事务所的关联人；,(iii) is funded as provided in section 109 of the Sarbanes-Oxley Act of 2002; (iii)

37、 由2002年萨班斯奥克斯莱法案规定的方式提供资金；,(iv) has adopted procedures to ensure prompt consideration, by majority vote of its members, of changes to accounting principles necessary to reflect emerging accounting issues and changing business practices; and (iv) 已采纳程序确保根据紧急出现的会计问题和变化的企业实务，按多数同意的原则，迅速对会计准则作出必要的改变；,(v

38、) considers, in adopting accounting principles, the need to keep standards current in order to reflect changes in the business environment, the extent to which international convergence on high quality accounting standards is necessary or appropriate in the public interest and for the protection of

39、investors; and(v) 在采纳会计准则方面，考虑保持其先进性，以反映企业环境的变化，并促进国际会计准则提升质量，以保护公众及投资者的利益。,(B) that the Commission determines has the capacity to assist the Commission in fulfilling the requirements of subsection (a) and section 13(b) of the Securities Exchange Act of 1934, because, at a minimum, the standard sett

40、ing body is capable of improving the accuracy and effectiveness of financial reporting and the protection of investors under the securities laws. (B) SEC认为其有能力协助完成1934年证券交易法(a)和13(b)部分的要求，因为该机构至少能够促进财务报告的准确性与有效性，以及依据证券法规加大对投资者的保护。,(2) ANNUAL REPORT.A standard setting body described in paragraph (1)

41、shall submit an annual report to the Commission and the public, containing audited financial statements of that standard setting body. (2) 年度报告第(1)段规定的准则制定机构应向SEC和公众提供年度报告，该报告包括其经审计的财务报告。”,(b) COMMISSION AUTHORITY.The Commission shall promulgate such rules and regulations to carry out section 19(b)

42、of the Securities Act of 1933, as added by this section, as it deems necessary or appropriate in the public interest or for the protection of investors. (b) SEC的职责SEC应制定这些规定、规章，以贯彻执行33年证券法第19(b)部分，该部分基于保护公众及投资者利益的考虑，已作了补充。,(c) NO EFFECT ON COMMISSION POWERS.Nothing in this Act, including this sectio

43、n and the amendment made by this section, shall be construed to impair or limit the authority of the Commission to establish accounting principles or standards for purposes of enforcement of the securities laws. (c) 不影响SEC的权力本法案的任何部分，包括本部分以及对本部分的修订，不得消弱或限制SEC为执行证券法规，在建立会计原则、准则方面的权力。,(d) STUDY AND RE

44、PORT ON ADOPTING PRINCIPLES-BASED ACCOUNTING. (1) STUDY. (d) 以原则为基础的会计之研究与报告 (1) 研究,(A) IN GENERAL.The Commission shall conduct a study on the adoption by the United States financial reporting system of a principles-based accounting system. (A) 总则SEC应对美国财务报告体系转而采用以原则为基础进行研究。,(B) STUDY TOPICS.The stu

45、dy required by subparagraph (A) shall include an examination of (B) 研究主题(A)要求的研究应包括调查,(i) the extent to which principles-based accounting and financial reporting exists in the United States; (ii) the length of time required for change from a rules-based to a principles-based financial reporting syst

46、em; (i)美国以原则为基础的会计与财务报告的现状；(ii)从以法规为基础转成以原则为基础需要的时间；,(iii) the feasibility of and proposed methods by which a principles-based system may be implemented;and (iv) a thorough economic analysis of the implementation of a principles-based system. (iii)采用以原则为基础的体系的可行性与可用的方法；(iv)对以原则为基础体系的贯彻执行的深入经济分析。,(2)

47、 REPORT.Not later than 1 year after the date of enactment of this Act, the Commission shall submit a report on the results of the study required by paragraph (1) to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representati

48、ves. (2) 报告SEC应在本法案生效后1年内，向参议院的银行、住宅及城市事务委员会以及众议院的金融服务委员会，提交关于第(1)段所要求的研究结果的报告。,SEC. 109. FUNDING.第109节 资金,(a) IN GENERAL.The Board, and the standard setting body designated pursuant to section 19(b) of the Securities Act of 1933,as amended by section 108, shall be funded as provided in this section

49、. (a) 总则委员会，以及遵照1933年的证券法案第19条(b)(后被第108条所修正)所指定的准则制定团体，可根据本条款的规定获得资助。,(b) ANNUAL BUDGETS.The Board and the standard setting body referred to in subsection (a) shall each establish a budget for each fiscal year, which shall be reviewed and approved according to their respective internal procedures n

50、ot less than 1 month prior to the commencement of the fiscal year to which the budget pertains (or at the beginning of the Boards first fiscal year, which may be a short fiscal year). (b) 年度预算委员会以及前述(a)条所限定的准则制定团体应于每一财政年度建立预算，且至少应在预算年度开始前一个月(或在委员会刚成立的第一个不完整的财政年度之初)，根据各自的内部程序审查和批准这些预算。,The budget of

51、the Board shall be subject to approval by the Commission. The budget for the first fiscal year of the Board shall be prepared and approved promptly following the appointment of the initial five Board members, to permit action by the Board of the organizational tasks contemplated by section 101(d). 委

52、员会的预算应经SEC批准。当指定了委员会的5名委员后，委员会应当制定并批准第一个财政年度的预算，以便委员会开展工作。,(c) SOURCES AND USES OF FUNDS.(c) 资金来源和运用,(1) RECOVERABLE BUDGET EXPENSES.The budget of the Board (reduced by any registration or annual fees received under section 102(e) for the year preceding the year for which the budget is being compute

53、d), and all of the budget of the standard setting body referred to in subsection (a), for each fiscal year of each of those 2 entities, shall be payable from annual accounting support fees, in accordance with subsections(d) and (e). (1) 可弥补的预算费用根据下述(d)和(e)条款，在各自的每一财政年度，委员会的预算(这些预算因预算制定前一年度、根据102(e)条

54、款所收到的注册费或年费的减少而下降)，以及前述(a)款所提到的准则制定团体的所有预算，均可从会计业支持费中支付。,Accounting support fees and other receipts of the Board and of such standard-setting body shall not be considered public monies of the United States.委员会及准则制定团体得到的会计业支持费及其他收入不应视作美国的公款。,(2) FUNDS GENERATED FROM THE COLLECTION OF MONETARY PENALTI

55、ES.Subject to the availability in advance in an appropriations Act, and notwithstanding subsection (i), all funds collected by the Board as a result of the assessment of monetary penalties shall be used to fund a merit scholarship program for undergraduate and graduate students enrolled in accredite

56、d accounting degree programs, which program is to be administered by the Board or by an entity or agent identified by the Board. (2) 来自征收罚款的资金尽管有本节(i)的规定，在将来可用于一项经费法案的条件下，委员会从罚款中所积累的资金仍可用于设立奖学金以资助在得到认可的会计学位计划中从事学习的本科生及研究生，这些奖学金项目应由委员会或经委员会确认的机构和团体来管理。,(d) ANNUAL ACCOUNTING SUPPORT FEE FOR THE BOARD.

57、(d) 委员会的年度会计业支持费,(1) ESTABLISHMENT OF FEE.The Board shall establish, with the approval of the Commission, a reasonable annual accounting support fee (or a formula for the computation thereof), as may be necessary or appropriate to establish and maintain the Board. Such fee may also cover costs incur

58、red in the Boards first fiscal year (which may be a short fiscal year), or may be levied separately with respect to such short fiscal year. (1) 会计业支持费的设立在得到SEC批准后，委员会应设立一笔会计业支持费(或相应地确立计算这一费用的公式)，这些费用可能对于委员会的建立和维继是必要或适当的。该支持费还应当包括委员会第一个财政年度（可能是一个不完整的财政年度）的支出，或为该财政年度单独征收支持费。,(2) ASSESSMENTS.The rules

59、of the Board under paragraph(1) shall provide for the equitable allocation, assessment, and collection by the Board (or an agent appointed by the Board) of the fee established under paragraph (1), among issuers, in accordance with subsection (g), allowing for differentiation among classes of issuers, as appropriate. (2) 评估第一段中有关委员会的制度应规定委员会(或委员会所认命的机构)应在不同的发行证券公司之间保持会计业支持费分摊、估算和征收上的公平性，以与第(f)款相一致。在恰当的情形下，也允许在不同类别的发行证券公司之间存在差异。,(e) ANNUAL ACCOUNTING SUPPORT FEE FOR STANDARD SETTING BODY.The annual accounting support fee for the standard s