The U.S. government has proposed new funding plans for Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC), The Wall Street Journal reports. The plan proposes $117 million in user fees to entities policed by the CFTC that would help boost funding for the CFTC to $308 million in 2012.
The plan also proposes to increase the SEC’s funding to about $1.4 billion for the next year. The proposed changes will allow SEC and CFTC to appoint 780 and 316 new staffers, respectively, to carry out duties under the Dodd-Frank financial law.
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