While President Barack Obama’s $3.8 trillion budget proposal for 2013 goes hard on the wealthy, it could also be tough on those who advise them. In his proposal, Mr. Obama is seeking a $245 million increase in the Securities and Exchange Commission’s budget for fiscal year 2013. The increase would bump the SEC’s budget to $1.566 billion, from the current $1.321 billion. Of note to advisers, the additional funding would support an expansion of the Office of Compliance Inspections and Examinations. More on Investment News here.
