Mary Schapiro, who is poised to be sworn in today as the chairman of the Securities and Exchange Commission, will push to broaden the agency's responsibilities as well as to boost its funding levels, she told a top Democratic lawmaker last week.

Responding to written questions from Michigan Sen. Carl Levin, Schapiro said it is "safe to say" that the SEC "has not been funded at a level commensurate with its responsibilities" but that "additional oversight capability is essential and [I] look forward to working with Congress to ensure that the agency has the resources it needs."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.