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Regulators

SEC Seeks $291Mn for New Headquarters

November 14, 2016

SEC Chairwoman Mary Jo White is scheduled to testify on Tuesday before the House Financial Services Committee. One of the agenda items is the Commission’s plans for a new $291 million headquarters.

 

The SEC sent the committee a budget request of $2.23 billion for fiscal 2018 – a 30% increase over its fiscal 2017 budget request;  its fiscal 2016 budget was $1.605 billion. The FY 2018 request includes building costs associated with a new headquarters lease.

 

The agency has seen its workload increase due to enforcement and rule-writing requirements from the 2010 Dodd-Frank financial overhaul. The SEC employs about 5,000 people and its current headquarters are at 100 F St. NE in Washington.