The Associated Press reports that with just two days left in its fiscal year, the SEC has yet to spend $103 million -- 40 percent -- of a $258 million budget increase intended to beef up its enforcement capabilities.

As discussed in this prior post, the SEC previously announced that it would hire 842 new professionals to perform enforcement and examination-related work. The AP reports, however, that the SEC is "far" from achieving this goal. According to the article, the SEC says the delay is not because of foot-dragging, "but rather a matter of being careful to hire the right people - and that takes time." The SEC hopes to fill all the positions by the end of this calendar year.

The 842 new positions include:
308--Office of Compliance Inspections and Examinations
209--Enforcement Division
176--Division of Corporation Finance
35--Division of Market Regulation
16--Division of Investment Management