Obama’s Proposed Budget For SEC Jumps 12 Percent; Will Pay For ‘Regulatory Initiatives’

President Obama’s fiscal year 2011 budget announced today requests $1.258 billion for the Securities and Exchange Commission. That is a 12 percent increase over last year’s budget. 

Obviously, Madoff and other SEC failures are being taken to heart – at least from a budget perspective. SEC head Mary L. Schapiro says the following: “If enacted, the President's request will do a great deal to help us keep pace with the continuing growth of the markets and provide necessary resources to support important regulatory initiatives in 2011."