ABA Urges Congress To Allow Self-Funding For SEC, CFTC

Law360, New York (May 21, 2012, 7:05 PM EDT) -- The American Bar Association on Thursday called on Congress to authorize self-funding to provide increased and reliable sources of revenue for the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission to carry out their expanded responsibilities.

The agencies need additional funding because they have been given a larger role by the Dodd-Frank Act, the newly-enacted JOBS Act and other legislation, but have not received the necessary corresponding increase in funding, the ABA said in a letter to members of the House Financial Services...
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