SEC FUNDING: House Appropriations Committee freezes SEC budget at FY11 level
The House Appropriations Committee on June 23 approved a measure that would allocate $1.185…
The House Appropriations Committee on June 23 approved a measure that would allocate $1.185 billion to the SEC for fiscal year 2012, the same amount that it received for the current fiscal year. The bill also would eliminate a $50 million SEC reserve fund created by the Dodd-Frank financial reform law that would support technology upgrades. The funding was $222 million less than the Obama administration budget proposal. Senate Democrats criticized the House bill for leaving the agency far short of the funds it needs to perform its core functions and implement Dodd-Frank. Here’s a related story.
Learn more about reprints and licensing for this article.
