Wall Street accounting watchdog sees 9% funding cut 2026, SEC says

WASHINGTON, Jan 22 (Reuters) - Wall Street's top regulator said ​Thursday it had ‌approved funding cuts for the U.S. ‌Public Company Accounting Oversight Board, shrinking the agency's overall budget for 2026 by ⁠more than ‌9% from the prior year to $362.1 million, ‍including a 52% cut to the agency chair's compensation, according ​to a statement.

"The decrease ‌in this year’s budget does not detract from the significance of the PCAOB’s mission, which remains crucial; ⁠rather, it underscores ​that fiscal discipline ​and regulatory effectiveness complement each other," Paul Atkins, ‍chair ⁠of the U.S. Securities and Exchange Commission, said ⁠in the statement.

(Reporting by Douglas Gillison ‌in Washington; Editing by ‌Chizu Nomiyama )