House Reps Tussle Over Funding For Finance Regulation

Law360, New York (January 25, 2011, 3:00 PM EST) -- Democrats and Republicans in the U.S. House of Representatives clashed Tuesday over funding for financial regulators, with Republicans vowing to force the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission to bring reforms at 2008 spending levels.

To go along with the Dodd-Frank Wall Street Reform and Consumer Protection Act, which mandates, among other things, complex new regulations governing the $600 trillion over-the-counter derivatives market, Democrats had proposed a 12.5 percent budget increase for the SEC above the agency's 2008 funding level of...
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