The Securities and Exchange Commission is seeking approval of a fiscal year 2001 budget of $422.8 million, an increase of $45.8 million, or 12 percent, over its fiscal year 2000 budget of $377 million. From 1999 to 2000, the budget increased by 11 percent, up from $338.9 million.
The division of investment management, the division primarily responsible for overseeing the mutual fund industry, has requested a budget of $77.7 million for 2001, an increase of 13 percent over its 2000 budget of $68.7 million. From 1999 to 2000, the division's budget rose eight percent, up from $63.4 million. The proposed budget would represent 18 percent of the total SEC budget, about the same proportion it has represented in the past two years.