SEC Has Saved Enough Pennies To Survive Government Shutdown

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Thinking the impending government shutdown will save you from getting nailed by the Securities and Exchange Commission for insider trading or other types of financial chicanery? Think again!

The Securities and Exchange Commission will remain open for business even if Congress fails to strike a budget deal to keep the government operating, SEC spokesman John Nester said Monday. "The SEC will be able to stay open in the event of a funding lapse because we have carryover funds available," Nester said. He added that the SEC's congressional appropriation lets the agency use all of its funds until they are expended, and the SEC has determined that "carryover balances are sufficient to allow us to remain open for a few weeks if there is a lapse of appropriations."

[Reuters]

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