SEC Chief Seeks More Enforcement Powers: SEC...

SEC Chief Seeks More Enforcement Powers: SEC Chairman Richard C. Breeden asked Congress for more power to police Wall Street, including access to grand jury testimony in criminal probes and authority to fine securities law violators. In testimony before the Senate Banking Committee’s securities subcommittee, Breeden also said he supported proposed legislation that would disqualify major securities law violators from serving as officers or directors of publicly held companies. But a federal judge--not the SEC--should be empowered with that authority, Breeden said. The SEC chief was the first witness at a hearing before the subcommittee that is considering many of the reforms Breeden said he favors.