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May 24, 2016

House Appropriators Voting To Cut SEC Funding Is A Vote For More Wall Street Crime

FOR IMMEDIATE RELEASE
Tuesday, May 24, 2016
Contact: Nick Jacobs, 202-618-6430 or njacobs@bettermarkets.com

Washington, D.C. – Dennis Kelleher, President and CEO of Better Markets, issued this statement on the release of a fiscal 2017 financial services funding bill that would cut the Securities and Exchange Commission’s (SEC) budget:

“The House Appropriations’ Financial Services Subcommittee bill could have been – and might well have been – drafted by Wall Street’s lobbyists.  The bill is packed with Wall Street’s wish list of special interest provisions, including irresponsibly cutting the SEC’s budget.  The SEC is the cop on the Wall Street beat and it is essential for protecting investors and fighting the crime wave on Wall Street.  Increasing, not decreasing, SEC funding should be a no brainer.  Voting to cut it is a vote for more crime and fraud that victimizes investors, our markets, and Main Street families.”

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.

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