On April 12, U.S. Securities and Exchange Commission (SEC) Chair Mary Jo White testified before the Senate Appropriations Subcommittee on Financial Services and General Government in support of an increased budget for the SEC. Chair White made the case to the Senate Appropriations Subcommittee for President Obama’s budget proposal to increase the SEC’s Fiscal Year (FY) 2017 budget to $1.781 billion, in part to bolster enforcement resources for violations of Federal securities laws. In particular, the SEC has requested an additional 52 positions in the Enforcement Division to aggressively address misconduct. When questioned by Senator Coons (D-DE) on the SEC’s enforcement actions, Chair White highlighted the Enforcement Division’s work with the Municipalities Continuing Disclosure Initiative in protecting individual investors.
Chair White’s testimony is available here.
A video of the hearing is available here.