Fact File: Annual Budget Of The U.S. Securities And Exchange Commission
By CFA Institute:
By Jason Voss, CFA
The U.S. Securities and Exchange Commission, which is charged with ensuring the proper functioning of U.S. financial markets worth at minimum $18,929 billion in market capitalization (the NYSE, NASDAQ, and AMEX combined), has a paltry annual budget of just $1.321 billion.Why paltry?To put this in perspective:
- The SEC budget is 99.99% smaller than the markets it is supposed to protect.
- The SEC budget is equal to $1 for every $14,329 that it is charged with protecting.
- The SEC's recent additional budgetary request amounts to an additional $0.13 for every $1,000,000 it supervises.
To further contextualize the SEC's funding, we've compared its budget to various other line-items in the U.S. federal budget.
- The SEC budget of $1.321 billion versus U.S. budget line item for:
- "Agriculture, forestry, fishing and hunting: surveys, investigations, and research" - $1.1 billion, or 16.7% smaller than the SEC budget.
- "Recreational and
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