Securities and Exchange Commission announced a $1.658 bn budget request for fiscal year 2019
“This year’s budget request reflects our top priorities of protecting investors and making sure we continue to have the most vibrant and well-functioning capital markets in the world," said Chairman Jay Clayton. “With the exceptional work and commitment of dedicated staff, the SEC will continue striving to maintain and expand an environment conducive to capital formation while ensuring investor protection.”
The SEC’s budget request would support 4,628 positions and enable the agency to enhance its efforts in its key market-facing Divisions and Offices, including Enforcement; Compliance, Inspections and Examinations; Trading and Markets; Investment Management; and Corporation Finance, as well as expand cybersecurity capabilities, leverage technology, and better oversee evolving markets.
In order to keep up with the rapid pace of technology advancement in the areas the SEC regulates, the request seeks a $45 million increase in funding for information technology enhancements to support the agency’s cybersecurity capabilities, risk and data analysis, enforcement and examinations, and automation of business processes. The fiscal year 2019 budget request level is a 3.5 percent increase over the fiscal year 2018 budget request of $1.602 billion.