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Regulators make funding pitch for FY 2019 budget

Joe Mont | February 14, 2018

It is, once again, the time of the year when governmental factions argue for their slice of the new budget,

This week, President Trump sent Congress a $4.4 trillion budget proposal for fiscal year 2019. The lengthy document, full of big jumps in military spending and corresponding reductions in domestic programs is unlikely to survive in its final form as it works its way through Congress.

In the meantime, the heads of regulatory agencies are adding their own budget requests in the mix.

Priorities in the Securities and Exchange Commission’s $1.658 billion budget request for fiscal year 2019 include “expanded oversight and enforcement in emerging areas such as financial innovation, market structure and cybersecurity,” according to a statement by Chairman Jay Clayton.

The SEC’s funding is offset by matching collections of fees on securities transactions and is budget and deficit neutral.

The SEC’s budget request would support 4,628 positions and... To get the full story, subscribe now.