SEC Chair Mary Jo White's Congressional Testimony on the 2014 SEC Budget Request

SEC Chairman Mary Jo White testified regarding the $1.674 billion SEC budget request for the coming fiscal year. She highlighted the following critical areas as top priorities and important drivers of the SEC budget:

• The completion of the rulemaking mandates contained in Dodd-Frank and the JOBS Act;
• Strengthening the core enforcement and examination functions of the SEC; and
• Better positioning the SEC to provide adequate oversight of today's highly complex and dispersed marketplace.

White then discussed the budget request itself, explaining that the additional funding would be allocated towards:

• Expanding oversight of investment advisers, improving their regulation and compliance;
• Bolstering enforcement;
• Economic and risk analysis to support rulemaking and oversight;
• Building oversight of the derivatives and clearing agencies;
• Enhancing reviews of corporate disclosures;
• Leveraging technology; and
• Enhancing training and development of SEC Staff.

White concluded by summarizing the SEC's implementation of Dodd-Frank and the JOBS Act to the Senate Subcommittee on Financial Service.

See: Chairman White's Full Testimony.Related News: "Chairman Gary Gensler's Testimony before the U.S. Senate Appropriations Subcommittee on Financial Services and General Government" (June 25, 2013).