Is the White House Coming for You? New Budget Proposal Calls for Increased Adviser Oversight

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The Obama Administration’s budget proposal for 2013 is a very interesting indication as to how it views the role of the investment adviser and its supervision by the Securities and Exchange Commission. The SEC’s budget calls for $1.566 billion for 2013, a $245 million increase over fiscal 2012’s appropriation. Much of that money will be devoted to expanding oversight initiatives by the Office of Compliance Inspections and Examinations (OCIE).

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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