‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC, 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 […]
Trump budget threatens SEC’s technology spending — FT
The Trump administration is planning to eliminate a part of the Securities and Exchange Commission budget that the regulator has been using to build tools for identifying insider traders and pursuing enforcement actions. A line item buried in the proposed budget released by the White House last week would scrap a $50m annual “Reserve Fund” […]
Why white-collar crooks may be cheering this Jeff Sessions memo — Yahoo Finance
Late last week, President Donald Trump’s budget blueprint was released. Among many other headline-grabbing cuts—the EPA, Meals on Wheels, climate change funding, legal aid for low-income households, and on, and on, and on—it also included a less-noticed $1.1 billion, or 4%, cut to the Department of Justice. The DOJ, of course, includes two divisions of […]
SEC Enforcement Arm Braces for Cutbacks – Barron’s
Already, the department has halted non-essential travel and the hiring of outside contractors who help in-house lawyers with cases, sources tell the publication. The enforcement department faces significant spending cuts in President Donald Trump’s proposed budget. “We’re already seeing a quieter enforcement regime,” Emory University law professor Urska Velikonja tells Bloomberg. “The number of enforcement […]
Congress to SEC: You’ll get nothing and like it | Compliance Week
The SEC, like Spalding Smails in this classic scene from Caddyshack, understandably wants some things. Not “a hamburger, a cheeseburger, a hotdog” but, rather, enhanced technology, more examiners, additional experts on staff, and so on. But lately, without fail, Congress invokes its inner Judge Smails to tell the SEC the same thing each year: “You’ll […]