Page 482

124 STAT. 1856 PUBLIC LAW 111–203—JULY 21, 2010

‘‘§ 3114. Appointment of candidates to certain positions in
the competitive service by the Securities and
Exchange Commission
‘‘(a) APPLICABILITY.—This section applies with respect to any
position of accountant, economist, and securities compliance exam-
iner at the Commission that is in the competitive service, and
any position at the Commission in the competitive service that
requires specialized knowledge of financial and capital market
formation or regulation, financial market structures or surveillance,
or information technology.’’.
(b) CLERICAL AMENDMENT.—The table of sections for chapter
31 of title 5, United States Code, is amended by striking the
item relating to section 3114 and inserting the following:

‘‘3114. Appointment of candidates to positions in the competitive service by the Se-
curities and Exchange Commission.’’.
15 USC 78d note. (c) PAY AUTHORITY.—The Commission may set the rate of pay
for experts and consultants appointed under the authority of section
3109 of title 5, United States Code, in the same manner in which
it sets the rate of pay for employees of the Commission.

SEC. 929H. SIPC REFORMS.
(a) INCREASING THE CASH LIMIT OF PROTECTION.—Section 9
of the Securities Investor Protection Act of 1970 (15 U.S.C. 78fff–
3) is amended—
(1) in subsection (a)(1), by striking ‘‘$100,000 for each such
customer’’ and inserting ‘‘the standard maximum cash advance
amount for each such customer, as determined in accordance
with subsection (d)’’; and
(2) by adding the following new subsections:
‘‘(d) STANDARD MAXIMUM CASH ADVANCE AMOUNT DEFINED.—
For purposes of this section, the term ‘standard maximum cash
advance amount’ means $250,000, as such amount may be adjusted
after December 31, 2010, as provided under subsection (e).
‘‘(e) INFLATION ADJUSTMENT.—
Deadlines. ‘‘(1) IN GENERAL.—Not later than January 1, 2011, and
Determination. every 5 years thereafter, and subject to the approval of the
Commission as provided under section 3(e)(2), the Board of
Directors of SIPC shall determine whether an inflation adjust-
ment to the standard maximum cash advance amount is appro-
priate. If the Board of Directors of SIPC determines such an
adjustment is appropriate, then the standard maximum cash
advance amount shall be an amount equal to—
‘‘(A) $250,000 multiplied by—
‘‘(B) the ratio of the annual value of the Personal
Consumption Expenditures Chain-Type Price Index (or any
successor index thereto), published by the Department of
Commerce, for the calendar year preceding the year in
which such determination is made, to the published annual
value of such index for the calendar year preceding the
year in which this subsection was enacted.
The index values used in calculations under this paragraph
shall be, as of the date of the calculation, the values most

LAWS recently published by the Department of Commerce. ‘‘(2) ROUNDING.—If the standard maximum cash advance amount determined under paragraph (1) for any period is notPUBLIC with on anorris VerDate Nov 24 2008 00:49 Aug 26, 2010 Jkt 089139 PO 00203 Frm 00482 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 GPO1 PsN: PUBL203