CFTC Chief Warns Agains Funding Cuts, Rule Delays

Law360, New York (June 9, 2011, 4:11 PM EDT) -- Starving the U.S. Commodities Futures Trading Commission of funding through federal budget cuts or delaying the implementation of key enforcement rules contemplated by Congress could lead to another swap market-driven meltdown of the economy, the agency's chief said Thursday.

“If the agency’s funding does not grow — or worse, gets cut — we would be unable to enforce new rules in the swaps market to promote transparency, lower risk and protect against another crisis,” CFTC Chairman Gary Gensler said in a speech at the offices of...
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