House passes a proposal increasing the SEC budget 10%, CFTC's 35%

12/10/2010 | InvestmentNews (free registration)

Despite many agencies' budgets being frozen, the House of Representatives voted to pass a proposal that would increase the Securities and Exchange Commission's budget by more than 10% to $1.25 billion and increase the Commodity Futures Trading Commission's budget about 35% to $261 million. The two agencies are writing most of the financial rules required by the Dodd-Frank Act. The bill for the funding, which is for the fiscal year that ends Sept. 30, needs to be approved by the Senate next.

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