Senators Propose $20M Increase For SEC Budget

Law360, New York (April 21, 2009, 12:00 AM EDT) -- Sens. Charles Schumer, D-N.Y., and Richard Shelby, R-Ala., are putting forth a proposal that would increase the budget of the U.S. Securities and Exchange Commission by about $20 million to give the agency more funds for hunting down financial fraud.

The senators said Tuesday they were proposing an amendment to legislation being considered by the Senate this week that would give the SEC additional resources to hire 60 new enforcement officers and upgrade its information technology systems. The proposed amendment would increase the SEC's budget by...
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