Securities and Exchange Commission Chairman Mary Schapiro will use an appearance before a congressional panel tomorrow to press lawmakers for a $245 million increase in the agency’s fiscal 2013 funding. In testimony prepared for the House Financial Services capital markets subcommittee, Schapiro said her request for a $1.57 billion fiscal 2013 appropriation would allow the SEC to hire additional examiners. The money would also help the agency implement provisions of the 2010 financial regulatory overhaul and a recently enacted law that eases securities laws for closely held firms and newly public companies, she said. More on Bloomberg here.
