SEC Nominees Question Agency's Budget

Law360, New York (June 14, 2011, 2:58 PM EDT) -- Two nominees for the U.S. Securities and Exchange Commission told a U.S. Senate committee Tuesday that the financial overhaul has given the agency more tools to regulate the industry, but that its expanded role could strain its budget.

"There's no doubt that the SEC has many more tools given to it by [the Dodd-Frank Wall Street Reform and Consumer Protection Act] to regulate the institutions, the markets and to take action that before the enaction of the statute that they didn't have," said Daniel M. Gallagher,...
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