SEC's White defends budget request

05/29/2013 | AdvisorOne

Mary Jo White, head of the Securities and Exchange Commission, told the House Subcommittee on Appropriations that the SEC's request for $1.67 billion for the 2014 fiscal year would be essential to helping it hire the extra 250 examiners needed to increase regulatory supervision of advisers. The new examiners "would be an important step in a multi-year effort to increase coverage by our examination program to meet our regulatory responsibilities to investors who increasingly turn to investment advisors for assistance navigating the securities markets and investing for retirement and family needs," White said.

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