In what the White House termed as ‘the largest proposed budget increase in the history of the agency,’ the SEC, along with a handful of government agencies, will receive a significant increase in its budget.
The proposed increase will enable the SEC to add at least 710 new jobs, the commission told the New York Times.
The White House said the increase will enable the SEC to ‘hire more accountants, attorneys, and examiners to protect investors, root out fraud, and instill corporate responsibility.’
The move comes after a year of corporate scandals in the US illustrating fundamental problems in the country’s corporate governance. Experts say some of these difficulties stemmed from lack of resources and manpower at the SEC.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements