SEC Seeks Budget Hike To Boost Cybersecurity, Add Staff

Law360 (February 12, 2018, 6:53 PM EST) -- The U.S. Securities and Exchange Commission on Monday requested a $1.66 billion budget for fiscal 2019 that contains a 3.5 percent spending increase after three years of flat budgets, hoping to spend more money on cybersecurity and restore positions lost to hiring freezes.

The SEC's budget proposal represents a $56 million increase compared with its fiscal 2018 request of $1.602 billion, a level the agency said has remained essentially flat since fiscal 2016. The new request contains a $45 million increase to improve information technology, including cybersecurity capabilities, among other things.

The budget also calls for 4,628 full-time positions, amounting to 100...

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