H.R. 3547, the omnibus 2014 spending bill passed by Congress and signed into law by President Obama last week, contains more bad news for the SEC than just the meager 2% increase it provides for the SEC’s budget. As noted here by Dina ElBoghdady of the The Washington Post, the new law also contains a provision that quietly strips away half of the SEC’s $50,000,000 Reserve Fund that it uses to improve its technology resources.
