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.
  • Facilitating Capital Formation. Add six staff members to the Office of the Advocate for Small Business Capital Formation and support the Capital Formation Advisory Committee to aid small businesses and small-business investors. Enable the Division of Corporation Finance to aid companies interested in initial public offerings and support other capital formation initiatives.
  • Protect Retail Investors and Markets. Restore 17 Enforcement Division positions to bolster key enforcement initiatives and support the Cyber Unit and the Retail Strategy Task Force. Restore 24 positions in the National Examination Program, and seven positions for the Division of Investment Management, which supports retail investors through its regulation of mutual funds, variable insurance products and exchange-traded products.
  • Effective Oversight of Changing Markets. Expand the Division of Trading and Markets by 16 staff members, and provide additional resources for the Fixed Income Market Structure Advisory Committee. Provide further funding for initiatives related to technology development.

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