News | 03.12.19
Trump's Budget Calls for Eliminating SEC Reserve Fund
President Donald Trump's fiscal 2020 budget calls for eliminating the SEC's reserve fund, which the agency taps to pay for long-term technology improvements. In its fiscal 2019 budget request, the SEC said the fund allows the agency to pay for long-term technology improvements “that otherwise would be more difficult to execute due to funding uncertainties.” The spending includes cybersecurity projects. The budget would also subject the Financial Stability Oversight Council and the Treasury's Office of Financial Research to congressional appropriations, limiting their ability to act on their own, reports the Washington Examiner.
Read the full article on Politico Pro