The independent monitor hired as a result of the city of San Diego’s securities fraud settlement with the SEC estimates he’ll work off of a $3.4 million budget in the next two years and offer his first report to the SEC on May 15.

Boston securities attorney Stanley Keller laid out his budget and plans in this work plan disseminated today by Council President Scott Peters. Keller, hired by Mayor Jerry Sanders at an estimated cost of between $3 million and $4 million, is monitoring the city’s reform efforts and its compliance with the SEC settlement.

He estimates his third and final report to the SEC will be made on Feb. 15, 2009.


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