112 STAT. 3234 PUBLIC LAW 105-353—NOV. 3, 1998 "(2) not to exceed $10,000 per fiscal year, for funding a permanent secretariat for the International Organization of Securities Commissions; and "(3) not to exceed $100,000 per fiscal year, for expenses for consultations and meetings hosted by the Commission with foreign governmental and other regulatory officials, members of their delegations, appropriate representatives, and staff to exchange views concerning developments relating to securities matters, for development and implementation of cooperation agreements concerning securities matters, and provision of technical assistance for the development of foreign securities markets, such expenses to include necessary logistic and administrative expenses and the expenses of Commission staff and foreign invitees in attendance at such consultations and meetings, including— "(A) such incidental expenses as meals taken in the course of such attendsmce; "(B) any travel or treinsportation to or from such meetings; and "(C) any other related lodging or subsistence.". SEC. 202. REQUIREMENTS FOR THE EDGAR SYSTEM. Section 35A of the Securities Exchange Act of 1934 (15 U.S.C. 7811) is amended— (1) by striking subsections (a), (b), (c), and (e); and (2) in subsection (d)— (A) by striking "(d)"; (B) in paragraph (2), by striking "; and" at the end and inserting a period; and (C) by striking paragraph (3). SEC. 203. COMMISSION PROFESSIONAL ECONOMISTS. Section 4(b) of the Securities Exchange Act of 1934 (15 U.S.C. 78d(b)) is amended— (1) by redesignating paragraph (2) as paragraph (3); and (2) by inserting after paragraph (1) the following: " (2) ECONOMISTS. — "(A) COMMISSION AUTHORITY. —Notwithstanding the provisions of chapter 51 of title 5, United States Code, the Commission is authorized— "(i) to establish its own criteria for the selection of such professional economists as the Commission deems necessary to carry out the work of the Commission; "(ii) to appoint directly such professional economists as the Commission deems qualified; suid "(iii) to fix and adjust the compensation of any professional economist appointed under this paragraph, without regard to the provisions of chapter 54 of title 5, United States Code, or subchapters II, III, or VIII of chapter 53, of title 5, United States Code. "(B) LIMITATION ON COMPENSATION. —N O base compensation fixed for an economist under this paragraph • may exceed the pay for Level IV of the Executive Schedule, and no payments to an economist appointed under this paragraph shall exceed the limitation on certain payments in section 5307 of title 5, United States Code.
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