Summary

In response to a congressional request, GAO provided information on the Securities and Exchange Commission's (SEC) budgets, work-load trends and staffing levels, and related market activity for fiscal years (FY) 1979 through 1988.

GAO noted that the data in this report were not always comparable to data it provided in a FY 1977 through 1981 report due to SEC recordkeeping changes. GAO provided information on: (1) selected indicators of market activity compared to SEC staff-year expenditures; (2) growth in market activity; (3) a summary of budget requests; (4) budget requests by program area and organizational unit; (5) a summary of program expenditures; (6) staff-year allocations and fund expenditures by program area; (7) work-load data; and (8) personnel benefits and nonpersonnel expenses. GAO found that: (1) SEC staffing levels remained relatively constant while indicators of market activity increased disproportionately; and (2) work-load trends indicated growth in SEC activities.