SEC Chair Mary Schapiro says the congressional impasse over federal spending will hamper the implementation of Dodd-Frank Act rules like those governing hedge fund registration and derivatives.
Speaking at the Society of American Business Editors and Writers in Dallas on Friday, Schapiro said her commission is “stretched incredibly thin.”
“We can get the rules written, but what we’re not going to be able to do is operationalize them,” she said.
The battle between Republicans and Democrats affects funding for both the SEC and the Commodity Futures Trading Commission. If the two sides fail to reach an agreement by tonight, the SEC would be shut down.