By Julie Aelbrecht
April 12, 2016, FOW
The chairman of the US Commodity Futures and Trading Commission (CFTC) has on Tuesday asked the U.S. Congress for an $80m increase in its 2017 budget, in order to meet the body's "dramatically expanded" responsibilities.
"Sensible regulation requires resources. While our progress has been significant, the agency does not have the resources necessary to adequately oversee these markets in the way that the public deserves. Our budget is simply not proportionate to the responsibilities we face," CFTC chairman Timothy Massad said in his testimony to support President Obama’s fiscal year 2017 budget.
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