Schapiro says cuts to SEC budget would hurt market supervision

03/11/2011 | CNNMoney · InvestmentNews (free registration)

Mary Schapiro, chairman of the Securities and Exchange Commission, said at a Senate hearing that a proposed cut in the agency's budget would hinder its ability to supervise financial markets. Schapiro also stressed the need for resources to implement and enforce the Dodd-Frank Act. Meanwhile, the SEC was scrutinized at a couple of House hearings, indicating that it is unlikely to get more money.

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CNNMoney · InvestmentNews (free registration)

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