February 1, 2010
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."
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