Schapiro Pushes $1.4B SEC Budget Request

Law360, New York (March 10, 2011, 1:16 PM EST) -- U.S. Securities and Exchange Commission Chairwoman Mary L. Schapiro said Thursday that her agency needs a consistent funding boost in order to implement last year's massive regulatory overhaul, increase its technological capabilities and strengthen already beefed-up enforcement efforts.

Schapiro told a hearing of the Senate Banking subcommittee on securities, insurance and investment that the SEC was at a “critical juncture” in its history and that its $1.407 billion fiscal year 2012 budget request was essential for it to carry out its mission.

The agency has been...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.