Tag: CFTC funding
Congress seeks to rein in CFTC
The House of Congress has passed legislation to reauthorise the CFTC for another five years; the Commodity End-User Relief Act (H.R. 2289) passed with a healthy majority 246-171. As with all things Dodd-Frank, the bill is already complex, controversial and may prove to be consequential. The bill’s policy statement is blunt and uncompromising in its […]
Congress delivers slap to CFTC
The House of Congress has passed the bill to reauthorise CFTC appropriations to 2018. H.R. 4413, the Consumer Protection and End User Relief Act, aims to substantially limit the Agency’s powers and orders the CFTC to clarify the cross-border regulatory fog. Passed 265-144 along partisan lines, the bill has been handed to the Senate, where […]
CTFC’s Wetjen: more money needed to monitor elephant in the room
Speaking before the Senate Appropriations Subcommittee on Financial Services and General Government, CFTC acting-Chairman Mark Wetjen used the rare tactic of honesty in his appeal for extra funding in 2015. “The unfortunate reality is that, at current funding levels, the Commission is unable to adequately fulfill the mission given to it by Congress.” The bulk […]
CFTC funding increased … now just wholly inadequate
CFTC Acting Chairman Mark Wetjen, pronounced himself “pleased” at the $215m. increase allocated to the CFTC in the omnibus appropriations bill: “This increase means the CFTC will be better equipped to fulfil our mission – ensuring the derivatives markets work for market participants and the public. This funding level is a step in the right […]