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SEC Postpones Some Dodd-Frank Rulemaking for Budgetary Reasons

The Securities and Exchange Commission has announced that it will delay some of the regulatory and structural changes contemplated by the Dodd-Frank Act due to uncertainty regarding the agency's budget.  It appears that bickering in Congress about the federal budget has caused the SEC to reexamine its priorities under the legislation, moving some initiatives and changes to a time after the adoption of a fiscal 2011 federal budget.

 

 

Section 342

Creation and Staffing of Office of Women &Minority Inclusion

Activities regarding diversity in hiring and small business contracting continuing to be performed by staff in existing EEO Office

 

Section 911

 

Creation of new Investor Advisory Committee

 

 

Sections 915 and 919D

 

Creation and Staffing of Office of Investor Advocate

Activities regarding investor perspectives in rulemaking continuing to be performed by staff in existing Office of Investor Education & Advocacy

 

Section 924

 

Creation and Staffing of Whistleblower Office

Functions temporarily assigned to existing staff within the Division of Enforcement

 

Section 932

 

Creation and staffing of Office of Credit Ratings

Rulemaking functions remain with staff within the Division of Trading and Markets; examination functions continuing to be performed by existing Office of Compliance Inspections & Examination

 

Section 979

 

Creation and staffing of Office of Municipal Securities

Functions continue to be assigned to staff within the Division of Trading and Markets