Investors could face significant risks if the SEC is not given money to hire more financial advisor examiners, President Obama warned Congress Tuesday.

In his budget announcement, Obama also accused Congress of not providing the Commodities Futures Trading Commission (CFTC) with sufficient funds to oversee systemic risk in the swaps and commodities industries.

Obama is seeking $1.8 billion for the SEC for fiscal 2017 beginning October 1 against the $1.882 billion the agency originally requested from his Office of Management and Budget.

The $1.8 billion figure represents a 12.5 percent increase from the $1.6 billion the agency is currently receiving.

However, the Republican-dominated Congress has routinely refused to give Obama a big chunk of the additional funds he has asked for the agency.

This year, the SEC is receiving $100 million more than the year previous, which the agency is using along with shifts of personnel from its broker-dealer unit to increase the number of advisor examiners by 20 percent.

Long term, Obama said he wants to double the budgets of the SEC and the CFTC from 2015 to 2021.

However, President Obama leaves office in January and many members of Congress will not be in office when the 2021 federal budget is proposed and voted upon.

The president is proposing a close to 30 percent increase for the CFTC to $330 million via new legislation that would let it appropriate money for itself without congressional approval, as bank regulators do.