; and (C) two at the end of 5 years. (2) Any commissioner appointed to fill a vacancy occurring prior to the expiration of the term for which the predecessor was appointed shall be appointed for the remainder of such term. 103. Organization of Commission (a) Required divisions The Commission shall establish the principal divisions and subdivisions of the Commission, including, at a minimum, the following three divisions: (1) A Markets and Trading Division with oversight of market conduct and utilities, the conduct of market professionals, and self-regulatory organizations with regard to such market professionals, including related examination functions. (2) An Issuers and Financial Disclosures Division with oversight of the issuance of securities, including investment companies and related rules and examinations. (3) An Enforcement Division responsible for the enforcement of all rules of the Commission. (b) Other offices The Commission may establish such other offices as it determines useful in the conduct of the Commission’s affairs. II Transfers of functions 201. Commodity Futures Trading Commission functions There are transferred to the Commission all functions of the Commodity Futures Trading Commission and of any officer or component of the Commodity Futures Trading Commission. 202. Securities and Exchange Commission functions There are transferred to the Commission all functions of the Securities and Exchange Commission and of any officer or component of the Securities and Exchange Commission. III Administrative provisions 301. Personnel provisions (a) Appointment and compensation The Commission may appoint and fix the compensation of such officers and employees as may be necessary to carry out the functions of the Commission. Except as otherwise provided by law, such officers and employees shall be appointed in accordance with the civil service laws and the compensation of such employees shall be fixed in accordance with section 4802 of title 5, United States Code. The Commission shall, in accordance with