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Budget Forces SEC to Shelve Whistleblower Office, for Now

Bruce Carton | December 3, 2010

It all sounded so good when Congress rejected self-funding for the SEC at the 11th hour of the Dodd-Frank negotiations, but promised to take care of the SEC's budget situation in other ways, including large increases over the next five years and a new “reserve fund” of up to $100 million the SEC could tap into for emergencies. However, as foreshadowed here back in October, an agency without self-funding really does not have much of anything other than old promises and whatever the current version of Congress chooses to give it.

In October, an 18% budget increase that the SEC was supposed to receive under Dodd-Frank was not included in a stopgap spending bill to fund government operations through early December. Now, the WSJ reports, the SEC has...

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