Commissioners voice mounting alarm over 'seriously strained' CFTC budget

Peter Madigan
27 Jan 2011

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Concerns over the ability of underresourced US federal regulators to enforce new financial reform legislation have intensified, with a senior regulator accusing the head of the Commodity Futures Trading Commission (CFTC) of playing “a game of budgetary chicken” with Congress.

Speaking at a conference in New York on January 25, CFTC commissioner Scott O’Malia lamented the decision by chairman Gary Gensler to slash the regulator's technology budget to make up for a shortfall in funds allocated to

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