House Committee Balks At SEC's Proposed FY 2013 Budget

Law360, New York (March 6, 2012, 10:22 PM EST) -- Citing the U.S. Securities and Exchange Commission's so-called disappointing performance, Republicans on the U.S. House of Representatives' Financial Services Committee rejected an amendment Tuesday that would have called for funding the agency to the full extent the president requested for fiscal year 2013.

In a 25 to 17 vote wholly along party lines, Republicans rejected an amendment to the committee's budget views, introduced by ranking member Rep. Barney Frank, D-Mass., that would have voiced the committee's support for the administration’s fiscal year 2013 budget for the...
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