WASHINGTON -- The head of the Securities and Exchange Commission on Thursday defended the agency's request for a significant budget increase before a House oversight committee, arguing that the additional funding is necessary to equip the SEC with the resources to handle a litany of regulatory tasks, including increased examinations of investment advisors and enforcement actions.
Mary Jo White, who has headed the agency for a little more than a month, said that in her short time on the job she has been struck by "how massive the responsibilities are of the SEC" at a time when the agency is working through the process of writing the rules to implement the Dodd-Frank and JOBS acts, along with other endeavors.
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