Obama Calls for Increased Funding for SEC and CFTC

President Obama released the 2011 Budget today.  According to published reports, it calls for a 11 to 13% increase (varies in reports) in the SEC’s budget, to nearly $1.3 billion, and a 55% increase in the CFTC’s budget, to $261 million.  Some of the increases are contingent on Congress passing legislation expanding the agencies’ authority.  See: WPost, Obama 2011 budget request: SEC, CFTC

The SEC released the following statement:

The following is a statement from SEC Chairman Mary L. Schapiro regarding the President’s FY 2011 budget request of $1.258 billion for the SEC, which represents a 12 percent increase over its FY 2010 budget:

“If enacted, the President’s request will do a great deal to help us keep pace with the continuing growth of the markets and provide necessary resources to support important regulatory initiatives in 2011.”

This entry was posted on Tuesday, February 2nd, 2010 at 2:29 am and is filed under SEC News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.