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SEC Submits Proposed Budget

February 14, 2011

SEC Chairman Mary Schapiro had this to say about the Commission's FY 2012 budget request, $1.4 billion. [C-I Note:  Seems odd seeing Ms. Schapiro put in the SEC's request for 2012, considering how far behind it apparently is in funding this year's fiscal programs.

"These funds will provide the SEC with the resources needed to carry out both our longstanding core mission as well as our new responsibilities for derivatives, hedge fund advisers and credit rating agencies.  By law, the 2012 funding is entirely offset by transaction fees such that the SEC budget will not add to the deficit."   [SEC PR 11-44, 2/14]