PUBLIC LAW 107-204-JULY 30,2002 116STAT.753 tog)RULES OF THE BOARD.-The rules of the Board shall,sub provide for the 2 oard of of its functionsto functions w spe ct to hea ving,reporting, onC西品 (by the Board such shall to b including appe review described ir 0r1 such by the and standards of conduct for Bo ard trepecnoPastieehsiemhe vise 是金空 d Cg花 audited ng. SEC.102.REGISTRATION WITH THE BOARD. 15USC7212 the a)MANDATORY EcSf the compeginning I8o sectio be an y person that is no ort with respect to any issuer. A public uch det (A)the which them prepare ssue audita ich rts dur h。 PUBLIC LAW 107–204—JULY 30, 2002 116 STAT. 753 (g) RULES OF THE BOARD.—The rules of the Board shall, subject to the approval of the Commission— (1) provide for the operation and administration of the Board, the exercise of its authority, and the performance of its responsibilities under this Act; (2) permit, as the Board determines necessary or appro￾priate, delegation by the Board of any of its functions to an individual member or employee of the Board, or to a division of the Board, including functions with respect to hearing, deter￾mining, ordering, certifying, reporting, or otherwise acting as to any matter, except that— (A) the Board shall retain a discretionary right to review any action pursuant to any such delegated function, upon its own motion; (B) a person shall be entitled to a review by the Board with respect to any matter so delegated, and the decision of the Board upon such review shall be deemed to be the action of the Board for all purposes (including appeal or review thereof); and (C) if the right to exercise a review described in subparagraph (A) is declined, or if no such review is sought within the time stated in the rules of the Board, then the action taken by the holder of such delegation shall for all purposes, including appeal or review thereof, be deemed to be the action of the Board; (3) establish ethics rules and standards of conduct for Board members and staff, including a bar on practice before the Board (and the Commission, with respect to Board-related mat￾ters) of 1 year for former members of the Board, and appropriate periods (not to exceed 1 year) for former staff of the Board; and (4) provide as otherwise required by this Act. (h) ANNUAL REPORT TO THE COMMISSION.—The Board shall submit an annual report (including its audited financial statements) to the Commission, and the Commission shall transmit a copy of that report to the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Committee on Financial Services of the House of Representatives, not later than 30 days after the date of receipt of that report by the Commission. SEC. 102. REGISTRATION WITH THE BOARD. (a) MANDATORY REGISTRATION.—Beginning 180 days after the date of the determination of the Commission under section 101(d), it shall be unlawful for any person that is not a registered public accounting firm to prepare or issue, or to participate in the prepara￾tion or issuance of, any audit report with respect to any issuer. (b) APPLICATIONS FOR REGISTRATION.— (1) FORM OF APPLICATION.—A public accounting firm shall use such form as the Board may prescribe, by rule, to apply for registration under this section. (2) CONTENTS OF APPLICATIONS.—Each public accounting firm shall submit, as part of its application for registration, in such detail as the Board shall specify— (A) the names of all issuers for which the firm prepared or issued audit reports during the immediately preceding calendar year, and for which the firm expects to prepare or issue audit reports during the current calendar year; 15 USC 7212. Deadline. VerDate 11-MAY-2000 18:56 Aug 07, 2002 Jkt 099139 PO 00204 Frm 00009 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL204.107 APPS24 PsN: PUBL204