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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