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SEC enforcement chief cites funding woes

WASHINGTON (Reuters) - The head of enforcement at the Securities and Exchange Commission on Friday defended the agency's record for bringing credit crisis cases and raised concerns about the agency's tight budget.

SEC Enforcement Division Director Rob Khuzami told an audience Friday that he knows the agency has faced criticism from those who feel it has not done enough to bring cases against misconduct by firms during the financial crisis. But he dismissed those claims, citing cases the agency has brought against an array of companies, including Goldman Sachs, Citigroup, Countrywide and the Reserve Primary Fund.

"The division's performance in this area has been extraordinary," he said. "Credit crisis cases continue to be a priority in the division."

He added that the budget squeeze is causing strain on the agency. The agency is currently stuck at fiscal year 2010 levels while Congress haggles over how much to appropriate to the agency.

(Reporting by Sarah N. Lynch; Editing by Steve Orlofsky)

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