Massad Faces Rough Road Atop Resource-Strapped CFTC

Law360, New York (November 12, 2013, 8:30 PM EST) -- Timothy Massad, the U.S. Treasury Department official President Barack Obama tapped Tuesday to lead the U.S. Commodity Futures Trading Commission, faces the difficult task of finishing and implementing new rules for trading derivatives while dealing with steep budget cuts and upheaval in the agency's top ranks.

The Dodd-Frank Act significantly raised the CFTC's stature and reach, without a proportional increase in budget. If confirmed, Massad, a former Cravath Swaine & Moore LLP partner, will take over an agency that — despite its small size and budget...
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