tailieunhanh - U.S. Securities and Exchange Commission In Brief FY 2013 Congressional Justification

Some authors have modeled the multiproduct price competition in di erentiated goods where, as in our model, consumers can engage in mixing purchases between shops. Lal and Matutes (1989) have studied price competition in a duopoly selling two independent goods. They nd that in equilibrium retailers will charge di erent but deterministic prices and may even capture the entire consumer surplus of the less mobile consumers. As opposed to our model in Lal and Matutes (1989) goods are di erentiated (for some consumers), the consumers di er in their willingness to pay and there is a economies of scale in shopping. In contrast, we assume that the two goods are. | . Securities and Exchange Commission In Brief FY 2013 Congressional Justification February 2012 . Securities and Exchange Commission TABLE OF CONTENTS Subject Page Executive Summary 1 Tables FTE and Positions by Program 12 Obligations by Object Class 13 FY 2013 Request by Strategic Goal and Program 14 Summary of Changes 15 Offsetting Collections and Spending Authority 16 Appropriations Language 17 Request by Strategic Goal FY 2013 Request by Strategic Goal 18 Goal 1 Foster and Enforce Compliance with the Federal Securities Laws 20 Goal 2 Establish an Effective Regulatory Environment 31 Goal 3 Facilitate Access to the Information Investors Need to Make 38 Informed Investment Decisions Goal 4 Enhance the Commission s performance through effective alignment and management of human information and financial capital 44 Request by Program Division of Enforcement 51 Office of Compliance Inspections and Examinations 52 Division of Corporation Finance 53 Division of Trading and Markets 54 Division of Investment Management 55 Division of Risk Strategy and Financial Innovation 56 Office of the General Counsel 57 Other Program Offices 58 Office of Chief Accountant 59 Office of Investor Education and Advocacy 60 Office of International Affairs 61 Office of the Administrative Law Judges 62 Office of the Investor Advocate 63 Office of Credit Ratings 64 Office of Municipal Securities 65 Agency Direction and Administrative Support 66 Agency Direction 67 Office of the Chief Operating Officer 68 Office of the Ethics Counsel 69 Office of Minority and Women Inclusion 70 Office of Equal Employment Opportunity 71 Office of the Inspector General 72 Appendix A-Acronyms 73 EXECUTIVE SUMMARY The . Securities and Exchange Commission SEC is pleased to submit our fiscal year FY 2013 Congressional Budget request to execute our three part mission to protect investors maintain fair orderly and efficient markets and facilitate capital formation. Over the past three years the SEC has .