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SEC Asks for a 26% Raise

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The new chair of the SEC, Mary Jo White, testified before Congress this week and asked to have the SEC’s budget increased by 26%, to $1.67 billion. A few of the highlights:

- she reiterated her commitment to completing the rule making under Dodd Frank and the JOBS Act.

- she wants to add 676 new staff positions.

- she claims the increase will be budget-neutral because it will be offset by an increase in collections fees.

- Corporation Finance will get 25 new staff members, “to hire additional attorneys and accountants to continue to enhance the Division’s reviews of large companies, review draft registration statements . . . prepare and finalize the remaining rules and projects to implement the Dodd-Frank Act and the JOBS Act . . .”

- Enforcement will get 131 new staff members, for “expertise in the securities industry and new product areas [and for additional] trial attorneys, and forensic accountants, as well as staff for the Office of Market Intelligence, the Office of the Whistleblower, and the SEC’s collections and distribution functions.”

- also mentioned was an upcoming overhaul of Edgar.

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Brian A. Lebrecht
Shareholder and Director


Mr. Lebrecht assists various clients primarily in the areas of public company disclosure, corporate finance, and mergers and acquisitions, including private placements, public and private offerings, Securities and Exchange Commission and Blue Sky compliance and reporting requirements, asset and stock purchases, and general corporate practice. Prior to joining Clyde Snow, Brian was President of The Lebrecht Group for 12 years.


Education



  • Juris Doctor, University of San Diego (1995)

  • M.B.A., University of San Diego (1995)

  • Bachelor of Science: Business Administration, University of San Diego (1991)


Court Admissions



  • U.S. District Court: District of Utah

  • U.S. District Court: Southern District of California


Awards and Honors



  • Best Lawyers in America, Mergers & Acquisitions, (2006 - 2013)

  • Approved by Utah Supreme Court as a Mentor for New Lawyer Training Program, (2009)


Professional Affiliations



  • Board Member, Juan Diego Catholic High School, (2009 to 2011)

  • Chairperson, Securities Law Section of the Utah State Bar, (2009)

  • Elected Officer, Securities Law Section of the Utah State Bar, (2007 - 2008)