Back in March 2014, President Barack Obama proposed a fiscal year 2015 budget of $1.7 billion for the Securities and Exchange Commission–a 26% increase over the agency’s FY 2014 budget. SEC Chair White testified shortly thereafter before a subcommittee of the House Committee on Appropriations that after receiving just a 2% budget increase in FY 2014, a meaningful increase over the FY 2014 budget of $1.35 billion was critical for the agency. Chair White explained that the requested $1.7 billion would allow the SEC to hire an additional 639 staff (including 126 new Enforcement staff) and enhance its information technology.
