Lack of CFTC Funds Hampers Enforcement, Gensler Says

Law360, Washington (February 27, 2013, 6:44 PM EST) -- The U.S. Commodity Futures Trading Commission is shelving enforcement actions and company examinations due to significant budget and staff insufficiencies, which could prevent the agency from catching or punishing futures and swaps trading violations like MF Global Holdings Ltd.'s meltdown, CFTC Chairman Gary Gensler told lawmakers Wednesday.

Although CFTC-regulated markets have grown eightfold, the agency itself has only increased its size by approximately 10 percent, making it impossible to keep up with examinations, rule enforcement and other priorities. According to Gensler, the $207 million agency needs...
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