The Securities and Exchange Commission lucked out with $136 million in extra funding from Congress this year, but it has to learn to stretch its budget further, according to an agency leader.
In the last 48 hours, Eileen Rominger, the new director of the Division of Investment Management at the Securities and Exchange Commission, has appeared before a congressional committee and addressed an investment advice industry group.
The day after R. Allen Stanford was convicted of operating a $7 billion Ponzi scheme, members of Congress pressed officials of the Securities Investor Protection Corp. to reimburse his victims.
Advisory group designed to counter Wall Street clout; SEC not required to act on recommendations, though
Opponents and backers of an SRO for investment advisers clashed in front of a Congressional panel on Wednesday. And this was just the first act.
Red light for now, but SRO bill still seen getting greenlighted
Small firms in Massachusetts could be decimiated: Finra cites 'critical need to fill an untenable gap in investor protection'
Finra to make SRO case; adviser group to cite "substantial costs, bureaucracy"
Europe's debt crisis, 8% unemployment and a decisive GOP recall victory in Wisconsin paint a bleak picture for President Obama's re-election bid.
