Biden’s overall fiscal 2022 budget proposal calls for roughly $6 trillion in spending, a 35% increase from pre-pandemic, 2019 spending of $4.4 trillion, but requests only a 5% increase from the 2021 fiscal-year request for the Securities and Exchange Commission — below the average budget increase over the past 25 years.
Advocates for financial reform say that the nearly $2 billion budget request is unnecessarily miserly, given an overall willingness to spend more, and the fact that the SEC is self-funded by industry fees and nearly always sends back to the Treasury more than it spends, when accounting for the financial penalties it brings in through to process of penalizing firms and individuals who flout its regulations.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn