President Obama’s fiscal 2010 budget request would provide the Securities and Exchange Commission with a funding increase of 6.8% to $1.027 billion from an estimated $961 million in fiscal year 2009. The WSJ reports that if approved, the SEC would use some of the budget increase to invest in IT resources for its Enforcement Division that are “similar to those used by the law firms it faces during investigations and litigation.”
For a summary of the IT problems the SEC is facing, see this post or the full GAO report released yesterday.
[…] SEC. But to appease her concerns, the same congress that approved a 6.8% budgetary increase to $1.027 billion for 2010 is now considering rewarding the agency a 2011 budgetary increase of 12%, all at the […]