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SEC Budget Paralysis Leaves New Programs in Limbo

Bruce Carton | December 23, 2010

Among the last acts of the 111th Congress, lawmakers approved a temporary funding bill that will fund government operations through March 4. As the SEC feared, however, Congress did not allocate the agency any increase beyond its FY2010 budget, despite an already inadequate budget and many new burdens imposed upon it under Dodd-Frank.

Investment News reports that the Congress has mandated the SEC to produce nearly 20 studies and create nearly 100 new rules under Dodd-Frank. While Dodd-Frank also provided for a significant increase in the SEC's budget--doubling it by 2015--these increases have become bogged down in the current budget battles. Senate Republicans have reportedly blocked two bills this month that would have raised the SEC FY 2011 budget to $1.25 billion in one case and $1.3 billion in another...

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