The Securities and Exchange Commission is requesting $1.993 billion for fiscal 2022, a slight boost from the $1.895 billion the agency requested for 2021.
In submitting its budget to the Office of Management and Budget, the agency said that in the last five years, the number of registered investment advisors overseen by the SEC increased from about 12,000 to approximately 14,000.
Over the last year alone, the SEC said, the number of individual clients reported by advisors jumped by nearly 20%, to more than 48 million individuals.
The aggregate regulatory assets under management RIAs report increased 13% over the last year as well.
The boost in SEC funds for FY 2022 will help the agency add 65 positions.
Click through the galley above to see how the SEC plans to allocate those new hires among its divisions and what they’ll be used for.
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