I thought I had stumbled on to a Groundhog Day-type situation in June 2015 when the House Appropriations Committee froze the SEC’s budget at a level that was $222 million less than the SEC requested — exactly the same freeze and differential that occurred in FY 2012. Less than one month later, it is Groundhog Day again in Washington, D.C. with U.S. Senators Jack Reed (D-RI) and Chuck Grassley (R-IA) re-introducing their bill from July 2012 (The Stronger Enforcement of Civil Penalties Act (SEC Penalties Act)) — accompanied by an amusingly similar press release.
