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Wednesday, November 04, 2009
House Panel OKs Adding $1 Billion To SEC Funding
By Ronald D. Orol
MarketWatch Pulse
WASHINGTON -- The agency that failed to catch Bernard Madoff's $65-billion ponzi scheme would have its funding doubled under legislation approved by a key congressional committee on Wednesday. The House Financial Services Committee approved more than $1 billion in additional funds annually over five years to the Securities and Exchange Commission together with a package of investor protection measures implemented in response to the financial crisis. The panel voted 41 to 28.
Copyright © 2009 MarketWatch, Inc.
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