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Bush Asks Congress For $906M For SEC

Law360 (February 6, 2006, 12:00 AM EST) -- The Securities and Exchange Commission, struggling with cost overruns and an ever-increasing regulatory scope, will not get much help from the 2007 budget. The Bush administration has asked Congress to earmark $906 million for the SEC, only a 2% increase over the agency’s 2006 budget.

The newly drafted 2007 budget asks for $17 million more than was granted in 2006, and includes $328 million to combat securities fraud and $215 million to carry out inspections of Wall Street firms.

But not all divisions have been granted...
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