Securities and Exchange Commission (SEC) Chairman Gary Gensler supports the White House’s budget request for the stock market watchdog. He warned, however, that the funds appropriated are tens of millions of dollars less than what his federal agency originally requested for the upcoming fiscal year.
The Senate Appropriations Committee appropriated $2.4 billion to the SEC. This was $194 million more than fiscal year 2023, although but nearly $73 million less than Mr. Gensler’s initial proposal. This, Mr. Gensler told lawmakers, would prevent the SEC from keeping up with the various market challenges present today.
