A major Web-based campaign to save the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) from the impact of proposed budget cuts will be launched at 1 p.m. Wednesday (February 16, 2011) by ShareOwners.org in cooperation with the Consumer Federation of America (CFA) and the Council of Institutional Investors (CII).
The U.S. House is currently looking to slash budgets of the SEC and CFTC, which would be forced to scale back operations and dismiss hundreds of employees at the same time they are seeking to implement pro-investor reforms mandated by the last Congress in the wake of the recent U.S. financial crisis.
The new campaign, spearheaded by ShareOwners.org, will mobilize small and large investors to get actively involved in urging Congress to avoid making cuts that would cripple the leading federal agencies responsible for ensuring that America’s financial markets operate in a fair and open fashion. The new effort by ShareOwners.org is one of a number of emerging pushes by a variety of important groups to protect investors and the integrity of the capital markets by shielding the SEC and CFTC against unwarranted budget cuts. (ShareOwners.org To Launch Major Campaign To Save SEC, CFTC in the Face of Budget Cut Proposals – FierceFinance)
News event speakers will be:
- Tracy Stewart, executive director, ShareOwners.org;
- Barbara Roper, director of investor protection, Consumer Federation of America; and
- Jeff Mahoney, general counsel, Council of Institutional Investors.
Phone-based news conference (with full, two-way Q&A) at 1 p.m. EST on Wednesday, February 16, 2011 by dialing 1 (800) 860-2442. Ask for “Save the SEC/CFTC Campaign” news event. A streaming audio replay of the news event will be available on the Shareowner’s Website as of 4 p.m. EST on February 16, 2011. Please join in this important effort to keep the SEC and CFTC strong. Regulations mean little, without enforcement.