The Obama Administration wants to increase funding for Wall Street regulatory agencies, something that could put them at odds with Congressional Republicans.Reuters reports that the White House’s proposed budget for fiscal year 2012 would increase the Securities and Exchange Commission budget 28 percent, to $1.427 billion and raise spending at the Commodity Futures Trading Commission 82 percent, to $308 million. Both are significant jumps from their 2010 spending levels. Congress did not pass a fiscal 2011 budget, instead leaving spending frozen at 2010 levels.
this US system is qute difficulyt to understand for european people and moreover for french. European commission can sometimes find a kind of deal in some competetion litigation. But in France, you are guilty or not. If you are not you go into to Court till the end. If you are or feel you are, then you can pay the fine. But paying a fine just to be quite is something that is strange to see…in comptetition and so called “complaince even if there is no french term to translate this notion.
This kind of deal is mainly used by the tax administration…But it is true this is a efficient mean to make some money get into the Treasure..
viaWhite House Seeks More Money for SEC, CFTC | Compliancex.(thanks to Compliancex)
- Obama seeks hike in SEC, CFTC funding (marketwatch.com)
- CFTC, SEC see funding surge under Obama budget plan (reuters.com)
- UPDATE 1-CFTC, SEC see funding surge under Obama plan (reuters.com)
- CFTC butts heads with Shelby on funding (marketwatch.com)
- GOP tries to slash Wall Street law (politico.com)