A funding boost for SEC enforcement, compliance inspections, and other agency programs cleared a major hurdle in the House June 11.

The House Appropriations Committee approved legislation that would give the Securities and Exchange Commission about $1.9 billion, approximately $200 million more than it requested for fiscal 2020 and received in fiscal 2019. The panel advanced the bill to the full House for consideration after a 30-21 vote.

The SEC’s Division of Enforcement would get about $40 million more than...