Summary: The Securities and Exchange Commission took a hit last week when a House panel denied the agency the funding it says it needs to hire additional investment-adviser examiners. In a voice vote, the House Appropriations Subcommittee on Financial Services and General Government approved a measure that sets the SEC budget at $1.4 billion for fiscal 2015 — a $50 million increase to its current budget, but $300 million less than the Obama administration requested.
 No matter what, the SEC must find a way to increase its schedule of investment adviser examinations. The situation, as it stands, is a ticking time bomb and American investors are the ones who will be hurt when it goes boom."
InvestmentNews Editorial
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