Hey Jason,

A great analysis indeed!

I seriously had no idea that even the US SEC runs on such a relatively tiny budget! I'm writing from Bangladesh and I happened to be working for the Bangladesh SEC for around 3 months. At the end of the third month, when my tenure with it was over, I was actually overwhelmed! The fact that our SEC runs on such a stringent budget was motivation enough to leave the organization with peace!

However, to my opinion, self-funding for a watchdog (especially for the financial markets) is prone to creation of unwanted issues which might, in the long run, hamper the prime focus of the Commission itself.

Again, great analysis. Thanks for sharing :).

Cheers
Saimum