SEC Equipped To Survive Long Shutdown, Agency Vets Say
By Max Stendahl
Law360, New York (October 01, 2013, 12:18 AM ET) -- Tuesday’s government shutdown could force the U.S. Securities and Exchange Commission to curtail enforcement operations temporarily if the stoppage drags on for weeks, but former SEC officials say such a demoralizing move would not prevent the agency from launching emergency suits designed to halt ongoing fraud.
Capitol Hill was thrown into disarray after lawmakers failed to strike a budget deal. SEC spokesman John Nester said the SEC would remain open and might be able to operate “for a few weeks” using unspent funds from the previous fiscal...