{"id":5305,"date":"2012-05-31T00:00:00","date_gmt":"2012-05-31T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2012\/05\/aba_presses_for_selffunding_fo_1"},"modified":"2022-03-09T16:17:54","modified_gmt":"2022-03-09T22:17:54","slug":"aba-presses-for-selffunding-fo-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/aba-presses-for-selffunding-fo-1\/","title":{"rendered":"ABA Presses for Self-Funding for SEC and CFTC"},"content":{"rendered":"<p>The American Bar Association is in strong favor of self-funding for both the Commodity Futures Trading Commission and the Securities and Exchange Commission. It is calling on Congress to quickly deal with this need to increase the agencies\u2019 resources.<\/p>\n<p>In a letter to lawmakers on the House Financial Services Committee and the Senate Banking Committee, ABA Task Force on Financial Markets Regulatory Reform co-chairs William Kroener III and Giovanni Prezioso talked about how not having sufficient funding sources for the SEC and the CFTC is going to substantially hurt the regulators\u2019 ability to complete their assigned regulatory missions. The ABA believes that self-funding would effectively deal with this problem.<\/p>\n<p>Both the CFTC and SEC have acknowledged that they are short on funds. The two regulators have partially attributed this to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which doesn\u2019t authorize self-funding despite the fact that SEC Chairman Mary Schapiro, past SEC chairmen, certain senators, and securities lawyers had pressed for it.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/aba-presses-for-selffunding-fo-1\/\"  title=\"Continue Reading ABA Presses for Self-Funding for SEC and CFTC\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The American Bar Association is in strong favor of self-funding for both the Commodity Futures Trading Commission and the Securities and Exchange Commission. It is calling on Congress to quickly deal with this need to increase the agencies\u2019 resources. In a letter to lawmakers on the House Financial Services Committee and the Senate Banking Committee, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3810,3761],"tags":[],"class_list":["post-5305","post","type-post","status-publish","format-standard","hentry","category-cftc","category-securities-and-exchange-commis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ABA Presses for Self-Funding for SEC and CFTC | Investor Lawyers<\/title>\n<meta name=\"description\" content=\"The American Bar Association is in strong favor of self-funding for both the Commodity Futures Trading Commission and the Securities and Exchange &#8212; May 31, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/aba-presses-for-selffunding-fo-1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"ABA Presses for Self-Funding for SEC and CFTC | Investor Lawyers\" \/>\n<meta name=\"twitter:description\" content=\"The American Bar Association is in strong favor of self-funding for both the Commodity Futures Trading Commission and the Securities and Exchange &#8212; May 31, 2012\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ABA Presses for Self-Funding for SEC and CFTC | Investor Lawyers","description":"The American Bar Association is in strong favor of self-funding for both the Commodity Futures Trading Commission and the Securities and Exchange &#8212; May 31, 2012","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/aba-presses-for-selffunding-fo-1\/","twitter_card":"summary_large_image","twitter_title":"ABA Presses for Self-Funding for SEC and CFTC | Investor Lawyers","twitter_description":"The American Bar Association is in strong favor of self-funding for both the Commodity Futures Trading Commission and the Securities and Exchange &#8212; May 31, 2012","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/aba-presses-for-selffunding-fo-1\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/aba-presses-for-selffunding-fo-1\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"ABA Presses for Self-Funding for SEC and CFTC","datePublished":"2012-05-31T05:00:00+00:00","dateModified":"2022-03-09T22:17:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/aba-presses-for-selffunding-fo-1\/"},"wordCount":541,"articleSection":["CFTC","Securities and Exchange Commission"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/aba-presses-for-selffunding-fo-1\/","url":"https:\/\/www.investorlawyers.com\/blog\/aba-presses-for-selffunding-fo-1\/","name":"ABA Presses for Self-Funding for SEC and CFTC | Investor Lawyers","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2012-05-31T05:00:00+00:00","dateModified":"2022-03-09T22:17:54+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The American Bar Association is in strong favor of self-funding for both the Commodity Futures Trading Commission and the Securities and Exchange &#8212; 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