Washington (Nov. 3, 2003) -- In keeping with plans announced earlier to beef up its staff, the Securities and Exchange Commission has contracted recruiting giant Korn/Ferry International and Futurestep, Korn/Ferry’s middle management recruitment service, to help it identify and place 110 mid-level and senior-level staff members.

Plans to bolster the Commission's staff were announced in February, following the news that the agency would receive more than $841 million under President George W. Bush’s 2004 federal budget. The funding, which represented a 92-percent jump from 2002 levels, marked the largest-ever increase for the regulator.

At the time, the SEC estimated that the funding would allow it to add some 710 new employees to its then 3,100-member workforce, including many accountants. The SEC said staff would be added in the following areas: 151 attorneys and accountants would be added in enforcement; and 136 additional staff, mostly analysts, would be added to the examinations program for broker/dealers. One hundred sixty-five new staff, mostly analysts, would be added in the examinations program for investment advisors. Another 151, comprised primarily of accountants, would bolster corporate finance. An additional 30 employees would be added in market regulation, and another 20 to the office of the chief accountant.

Korn/Ferry said the initial recruitment contract will focus on accountants in the Division of Corporation Finance. The positions will be designated for the SEC's Washington headquarters. Accountants can register as candidates at the SEC/Futurestep recruiting website at http://sec.futurestep.com.

-- WebCPA staff

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