New SEC Budget Includes 102 New Jobs Focused on Private Funds
In recent Congressional testimony, the Directors of the 5 major SEC divisions outlined SEC budget requests which included the hiring of 102 new persons focused on private fund advisers, 50 new hires focused on oversight of advisers and broker-dealers, and 43 new positions to support the new whistleblower program. Overall, the SEC is seeking an 18% increase in budget, although the Directors explained that increased registration fees will fund any increase in the budget. The 102 new positions focused on private fund advisers include 45 examination positions and 21 enforcement jobs.
OUR TAKE: The SEC has pushed for private fund adviser regulation for many years. Now, that Dodd-Frank has granted it regulatory jurisdiction, the SEC wants the horsepower to properly regulate.
Posted by Todd Cipperman at 3/17/2011 6:06 AM 
Categories: Compliance and Operations
Tags: sec staffing enforcement
Categories: Compliance and Operations
Tags: sec staffing enforcement
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