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...
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