SEC, CFTC Want Budget Hikes To Implement Dodd-Frank

Law360, New York (May 4, 2011, 4:24 PM EDT) -- The heads of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission petitioned Congress on Wednesday for budget increases, saying they need to hire more staff to meet their new responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

SEC Chairwoman Mary Schapiro and CFTC Chairman Gary Gensler testified before the Senate Appropriations subcommittee on financial services and general government, urging lawmakers to approve a $222 million increase for the SEC and a $100 million increase for the CFTC in the...
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