Cox Seeks Congressional OK For $1B SEC Budget

Law360, New York (April 17, 2008, 12:00 AM EDT) -- U.S. Securities and Exchange Commission Chairman Christopher Cox is asking Congress to approve nearly $1 billion in funding for the next fiscal year so the regulatory agency can retain staff and carry out new initiatives that respond to recent major threats to the financial sector.

Cox told a subcommittee for the House Committee on Appropriations on Wednesday that approval of President Bush's $913 million budget request for the agency was necessary to allow the SEC to pursue its ongoing initiatives and address new risk areas as...
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