SEC Chair White testifies for Obama’s proposed 2015 budget

She states that the Commission will need more money to ensure its promised crackdown on compliance of investment companies and financial institutions

Part of the US Securities and Exchange Commission’s (SEC) promised crackdown on compliance, investment entities, and other businesses will be integrated with the allotted budget for the SEC’s fiscal year for 2015. SEC Chair Mary Jo White just testified before a subcommittee of the House Committee on Appropriations to support President Obama’s budget request for fiscal 2015 for the regulatory body — part of her testimony relating to the necessary tightening of examination and investigation on financial groups that the SEC must perform over the coming years.

The SEC’s fiscal year budget for 2014 is $1.35 billion — an allotted amount that Chair White claims is insufficient to perform the regulatory missions the body must act on in order to increasingly ensure that investment and financial organizations are in compliance. She emphasized that technology plays a huge role in what the SEC hopes to accomplish, and that President Obama’s proposed $1.7 billion fiscal year budget for the SEC will greatly assist those aims. 

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Juliana Kenny

Juliana Kenny is a contributor to, covering a range of topics including patent litigation, conflict mineral laws, executive compensation, and antitrust regulation. Juliana earned B.A.s...

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