SEC Seeks Expanded Budget For FY 2019

The SEC requested a $1.658 billion budget for FY 2019. The request represents a 3.5 percent increase over the budget request for FY 2018.

According to the SEC, the budget would support 4,628 positions and 4,457 full-time equivalents, with the expenses offset by user fees on securities transactions. The SEC imposed a hiring freeze that will continue throughout FY 2018, and expects the staffing level to drop to 4,528 positions by the end of FY 2018. The FY 2019 request would add 100 positions in order to "address critical priority areas and enhance the agency's expertise is key areas." The SEC highlighted the following recommendations in FY 2019:

• Cybersecurity and Risk Management. Add four information system security officers to bolster cybersecurity protections in areas that include incident management and response, advanced threat intelligence monitoring, and enhanced database and system security.