The CFTC, which oversees most US futures and options, could receive an extra $93m, or 55% of its present annual budget of $168.8m, which would bring its total funding to $261m. The SEC, which regulates all derivatives linked to securities, could be given a budget of $1.13bn in 2011.
However, the increases in budgets will only be awarded if US
President Barack Obama’s plan for overhauling the
US financial markets becomes law.
Of the extra $93m, $45m is dependant on whether the proposed
legislation is passed. Obama’s plans would give
the CFTC new powers to regulate over-the-counter
Under the White House budget plan, the SEC budget would
decrease by $24m if a financial measure is not enacted.
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