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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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SEC Seeks Record Budget
March 5, 2012
[ by Melanie Gretchen ]
For Fiscal Year 2013, the SEC seeks to fill 5,180 positions, a 15% increase over its its projected FY 2012 levels. That would require an extra $245 million over the Agency's FY 2012 appropriation - an 18.5% increase. All told, the SEC is requesting $1.566 billion in FY 2013, which is backed by a voluminous budget analysis.
As in FY 2012, the FY 2013 budget request would be fully offset by the matching collections of securities transaction fees - Section 31 fees. In FY 2012, the fee rate will equal about 2¢ per every $1,000 of transactions.
SEC FY 2013 Initiatives. The SEC seeks increased funding for fiscal year 2013 to achieve multiple high-priority initiatives:
- adequately staff mission essential activities to protect investors
- prevent regulatory bottlenecks as new oversight regimes become operational and existing one are streamlines
- strengthen oversight of market stability
- expand the agency's information technology systems to better fulfill its mission

