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SEC Approves Fee Assessment for FASB Budget

March 9, 2012
The SEC has approved the 2012 annual accounting budget for the Financial Accounting Standards Board (“FASB”) and its parent organization, the Financial Accounting Foundation (“FAF”).  In accordance with authority granted under the Sarbanes-Oxley Act of 2002, the SEC issued an order that the costs of the 2012 FASB budget shall be payable from an annual accounting support fee assessed and collected against each issuer, as may be necessary or appropriate to pay for the budget. For further details, go to:  [SEC Order '34Act Release No. 66529, 3/7/12].