Search
 

Obama Said to Trim CFTC Budget

Agency has said it lacks resources to adequately oversee markets; current version of president's budget reduces funding from previous version but increases from current funding level.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

President Barack Obama is set to seek a $280 million budget for the U.S. Commodity Futures Trading Commission (CFTC) that, while more than the commission currently gets, is lower than his previous request for an agency that has said it lacks the resources to fully oversee markets, according to people with knowledge of the matter.

Obama’s request for the fiscal year beginning Oct. 1, a cut of more than 10 percent from the $315 million he sought in his previous proposal, would be a 30 percent increase from the current level of $215 million for the derivatives regulator, according to the people, who asked for anonymity because the budget request won’t be unveiled until March 4.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

 

Recommended Stories

Russia Sanctions Will Hit Pensions

Laura Benitez & Loukia Gyftopoulou |

Pimco execs told the U.S. Treasury that a Russian default would actually give President Vladimir Putin more money for his war efforts.

Economic Indicators Have Gotten Hard to Decipher

Reade Pickert |

Economists don’t tend to look at any given indicator in a vacuum. Instead, they consider a wide variety of data when making projections about the health of the economy.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2022 ALM Global, LLC. All Rights Reserved.