The Senate Appropriations Committee approved a 13 percent budget increase for the Commodity Futures Trading Commission for the fiscal year starting Oct. 1, putting the Senate on a potential collision course with the House.
The House Appropriations Committee last month approved only a 2.4 percent boost for the derivatives regulator headed by Chairman Christopher Giancarlo. The CFTC had flat funding of $250 million from fiscal 2015 to 2017, and was subject to a cut to $249 million this year.
The Senate panel, headed by Alabama Republican Richard Shelby, said last week: “The committee recommendation includes increased funding to boost the CFTC’s analytical expertise, cybersecurity capabilities and financial technology.”
Senate panel clears 13 percent funding increase for CFTC, setting up potential clash with House
26 June 2018 9:01am