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U.S. Propose New Funding For CFTC, SEC
The U.S. government has proposed new funding plans for Commodity Futures Trading Commission and Securities and Exchange Commission.
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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