Obama Wants SEC, CFTC Funding Doubled By 2021

By Stewart Bishop (February 8, 2016, 8:00 PM EST) -- President Barack Obama is calling on congressional leaders to double the funding of the U.S. Securities and Exchange Commission and the U.S. Commodities Futures Trading Commission within five years, an administration official said Monday.

Obama, in his budget for 2017, contends that SEC and CFTC funding should be doubled from fiscal year 2015 levels by 2021, according to Jeffrey Zients, the director of the National Economic Council and assistant to the president for economic policy. The president's budget for fiscal year 2017 contains a "down payment" toward the 2021 target, Zients said, with an allocation of $1.8 billion for the SEC and...

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