The Securities and Exchange Commission reached the end of 2015 with a record number of examinations completed and a significantly enhanced presence in several key areas of asset management. See “OCIE Outlines Examination Priorities for 2016” (Jan. 14, 2016). But the Commission’s progress to promote compliance with securities laws and greater transparency and fairness for investors may be stunted by insufficient resources. This point was made by SEC Chair Mary Jo White during her June 14 testimony before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. This article highlights the portions of White’s testimony most relevant to hedge fund managers. For analysis of prior public statements by White regarding hedge fund issues, see “SEC Chair Outlines Expectations for Fund Directors” (Apr. 7, 2016); “SEC Chair Highlights Two Types of Risks Hedge Fund Managers Must Consider” (Oct. 29, 2015); and “SEC Chair White Describes the SEC’s Game Plan With Respect to the Asset Management Industry” (Dec. 18, 2014).