Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInSEC Enforcement Head Asks Congress for More Resources to Tackle Crypto Issues
Several subcommittee members brought up the possibility of expanding the SEC Enforcement Division’s allocated resources. When Rep. Sean Casten (D-Ill.) asked Grewal whether his unit had sufficient resources to regulate crypto, Grewal hinted at a potentially massive expansion on the horizon.“ I could always use more resources but we’re making the best with the additional […]
SEC Chairman Gary Gensler To Visit Appropriations Subcommittee To Discuss Budget: “The Gold Standard For Capital Markets” – Crowdfund Insider
Maintaining the gold standard comes with a cost and the SEC is submitting a budget request for operations of $2.149 billion, an 8 percent increase over FY 2022. Gensler believes this is no time to “scrimp” on resources as the complexity of markets is growing – not receding. Source: SEC Chairman Gary Gensler To Visit […]
SEC is short staffed, needs more help to police crypto, China-linked firms, Gensler says
Chairman Gary Gensler said Wednesday that the SEC is trying to juggle an unprecedented list of financial challenges with a smaller staff. “We are short staffed,” Gensler told CNBC’s “Squawk on the Street.” “It might sound odd to say that at an agency with 4,400 remarkable, dedicated staff working remotely during this challenging pandemic. But […]
Biden’s SEC budget request inadequate as agency tackles ambitious agenda, financial watchdogs say – MarketWatch
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 […]
SEC, IRS Get Budget Boosts | ThinkAdvisor
The Securities and Exchange Commission was allotted $1.92 billion for its 2021 budget on Wednesday, an increase of $105 million above the fiscal 2020 enacted level. via SEC, IRS Get Budget Boosts | ThinkAdvisor.
The SEC’s budget shows just how outgunned it is | TheHill
The trick is, rather than getting mired in the weeds, one should review four top-line numbers provided by the reports. To wit, the executive summary of the 2020 budget appropriations document says the agency expects to oversee $97 trillion in securities trading, a 29-percent jump from the $75 trillion it saw supervising in 2019. By […]
SEC Pay Raise Plan Gets Cold Shoulder From Agency Union Leaders – Bloomberg
U.S. Securities and Exchange Commission employees are going to get more help and smaller raises under a plan laid out by Chairman Jay Clayton, and the agency’s union leaders aren’t happy about it. The Wall Street regulator will add 100 people this year after lifting a hiring freeze, Clayton said in an email to staff […]
Serious Fraud Office: Boost to Coffers Is Vote of Confidence | The Anticorruption Blog
The UK’s Serious Fraud Office (“SFO”) recently received an unexpected, yet significant, increase in baseline funding for the 2018-2019 fiscal year. The funding boost comes in spite of Prime Minister Theresa May’s previous efforts, following several high-profile prosecutorial setbacks for the SFO, to fold it into the UK’s National Crime Agency (“NCA”). Relatedly, a new […]
SEC.gov | Investor Protection, Capital Formation and Market Integrity Are Top Priorities in SEC Budget Request
The Securities and Exchange Commission today announced a $1.658 billion budget request for fiscal year 2019 to support its core mission and expand oversight and enforcement in emerging areas such as financial innovation, market structure and cybersecurity. The SEC’s funding is offset by matching collections of fees on securities transactions and is budget and deficit […]
General Services Administration kicks off search for new SEC HQ – Washington Business Journal
The federal government has officially kicked off its search for a new headquarters for the Securities and Exchange Commission, which has been located in space near Union Station in Northeast D.C. for more than a decade. The General Services Administration issued a presolicitation Monday seeking nearly 1.3 million square feet for the SEC as an […]