The Securities and Exchange Commission (SEC) will start hiring derivatives specialists and make investments in computer technology, said SEC Chairwoman, MarySchapiro, Pensions & Investments reports. The SEC is utilizing a $74 million funding boost from a congressional budget compromise to make appointments in its enforcement, inspections and trading and markets units.
The Commodity Future Trading Commission received an additional $34 million for its current budget under last month’s congressional compromise. The funding will be used to hire employees to manage nearly 300 futures brokers and swap dealers, 20 clearinghouses and nearly 40 swap execution facilities required under the Dodd-Frank bill.
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