SEC Chairman White Testimony on SEC Budget

SEC Chairwoman Mary Jo White testified before the Subcommittee on Financial Services and General Government, Committee on Appropriations, in support of the President’s fiscal year ("FY") 2014 budget request for the Commission. In her testimony, Chairwoman White described the extent of the SEC's ongoing responsibilities and the various new responsibilities that she believes should be the Commission's top priorities. These priorities include: (i) the need for the SEC to complete the rulemaking mandates contained in Dodd-Frank and the JOBS Act; and (ii) building the enforcement and examination functions of the SEC, including devoting more examination staff to investment advisers. Chairman White said that the increased budget would allow the SEC to hire 676 new staff members, 250 of whom would be committed to the examination of investment advisers.

View testimony in full here (links externally to SEC website).