The number of investment advisors examined yearly is likely to stay in the 8 percent to 9 percent range, said the Securities and Exchange Commission on Friday.

In a document supporting the Obama budget proposal released last week, the agency said the President’s call for Congress to add 240 investment advisor examiners would lead to a 33 percent increase in the number of advisors examined in the 2015 federal fiscal year starting October 1.

However, because of strong Republican opposition to the SEC budget increase, that request is almost certain to go unheeded.

An SEC report justifying the President’s request says his budget could hike the number of advisors examined to 12 percent from the 9 percent expected to be reviewed in 2014, which would be nearly same as the previous year.

In the current fiscal year, the SEC expects to conduct 1,000 advisor exams, up from 964 in 2013. For broker-dealers subject to SEC and Finra exams, 48 percent are expected to be examined this year vs. 46 percent in 2013.

Typically, the SEC chooses to examine the largest and riskiest firms and the ones that have never been examined.

The SEC expects there will be nearly 11,400 registered investment advisors with more than $56 trillion in assets under management by 2015, compared to a projected 10,899 with $54.3 trillion in AUM at the end of this year.

The SEC said there are more than 800 investment company complexes managing over 10,000 mutual funds and exchange-traded funds and 4,400 broker-dealer firms with more than 1,600 branch offices. It expects the number of investment companies to decline from 4,187 in 2014 to 4,100 in 2015.

Pleading for more money, the SEC said the agency noted 40 percent of advisory firm have never been examined (half of which have been registered for at least three years) and “well below” 1 percent of the brokerage branch offices are examined each year.

In its report, the agency said the number of all exams that found “significant findings” of activities that had the potential to cause investor harm or to repeat misconduct fell in 2013 to 35 percent from 42 percent in 2012.

The number of 2013 exams by the SEC's Office of Compliance Inspections and Examination resulting from a tip were 222. Figures for previous years were not available, according to the SEC.

OCIE estimates 87 percent of all firms it examines this year that are sent deficiency letters will take corrective action on a par with last year.

In the budget report, the SEC revealed its enforcement division expects to open 1,025 investigations in 2014, a 10 percent increase over 2013. The number would rise to 1,075 if the President’s spending level is approved, the agency said.

Civil cases opened are expected to drop to 200 in 2014 from 207 in 2013, while pending civil suits are expected to remain virtually unchanged at 1,800.

The study also said the SEC’s enforcement division has filed eight cases based on suspicious investment returns posted by unregistered and registered hedge fund advisors.