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Securities And Exchange Commission Budget

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BUSINESS
July 30, 1993 | From Times Staff and Wire Reports
New SEC Chairman Asks for More Money: To keep up with explosive growth in the finance industry, additional inspectors are needed, Arthur Levitt Jr. told a Senate subcommittee. The Securities and Exchange Commission chairman asked for $281.9 million for fiscal 1994. The Clinton Administration had proposed $255.4 million. Levitt said the extra money was needed to pay for SEC inspections of financial planners. Between 1981 and 1993, the number of such advisers increased from 5,100 to 18,000.
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BUSINESS
July 30, 1993 | From Times Staff and Wire Reports
New SEC Chairman Asks for More Money: To keep up with explosive growth in the finance industry, additional inspectors are needed, Arthur Levitt Jr. told a Senate subcommittee. The Securities and Exchange Commission chairman asked for $281.9 million for fiscal 1994. The Clinton Administration had proposed $255.4 million. Levitt said the extra money was needed to pay for SEC inspections of financial planners. Between 1981 and 1993, the number of such advisers increased from 5,100 to 18,000.
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BUSINESS
September 22, 1989 | From Associated Press
A Senate panel has passed legislation that would increase Securities and Exchange Commission funding by $70 million over the next two years and lift salary caps for SEC staffers. The Senate Banking, Housing and Urban Affairs Committee approved a package of SEC-related legislation without amendments and little discussion on Wednesday.
BUSINESS
September 22, 1989 | From Associated Press
A Senate panel has passed legislation that would increase Securities and Exchange Commission funding by $70 million over the next two years and lift salary caps for SEC staffers. The Senate Banking, Housing and Urban Affairs Committee approved a package of SEC-related legislation without amendments and little discussion on Wednesday.
OPINION
July 11, 2002
After listening to President Bush's prescriptions for corporate reform in his speech Tuesday, I was reminded of "Porgy and Bess," with its memorable song whose lyrics begin, "I've got plenty of nothin', and nothin's plenty for me." Too bad. The president had a chance to demand some harsh remedies from Congress with specific recommendations for real reform but instead simply reiterated platitudes, which even Wall Street found inadequate, as the Dow Jones continued on its downward path after the speech.
BUSINESS
June 19, 2002 | RICHARD SIMON and WALTER HAMILTON, TIMES STAFF WRITERS
Legislation to toughen rules for the accounting industry cleared a key congressional hurdle Tuesday as federal regulators prepared to move ahead with their own measure, giving fresh momentum to corporate reforms inspired by Enron Corp.'s collapse. By a surprisingly strong 17-4 bipartisan vote, the Senate Banking Committee approved an accounting industry reform bill that had recently been given up for dead.
BUSINESS
September 14, 2009 | Jim Puzzanghera
A year after the demise of legendary Wall Street investment bank Lehman Bros., calls for far-reaching reforms to rein in the financial industry's excesses remain unanswered -- and may be stymied by increasing signs of a budding economic recovery. President Obama is headed today to Founders Hall on Wall Street, steps from the heart of the business world, to try to reignite support for his proposed overhaul of financial regulations. The legislation would permanently expand Washington's role in overseeing the financial system by creating a new agency to protect consumers, reining in the dark world of derivatives and giving government officials the ability to seize and dismantle large companies whose failures could be catastrophic.
NATIONAL
July 31, 2002 | RICHARD SIMON and LISA GIRION, TIMES STAFF WRITERS
President Bush signed far-reaching accounting reform legislation into law Tuesday as corporate executives, auditors, lawyers and Wall Street analysts braced for a significant change in the way they do business. At the White House's carefully orchestrated signing ceremony, Bush stressed the punitive aspects of the most far-reaching business reforms since the Depression--measures that appeared all but dead just a few months ago.
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