SEC Spends Funds On Mandated Consulting But Can't Afford To Implement Recommendations Hot

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The consulting that depleted funding was mandated by Congress. The original consulting project cost $4.8 million. An extra $8.6 million has been spent on follow-up and multiple additional consultants. Even if there is no money left for reorganization, significant cost savings measures have been identified which could save the agency $13 million by the end of the 2013 fiscal year.

There were no specifics on what types of projects the agency would focus on for 2012.

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