Commissioners voice mounting alarm over 'seriously strained' CFTC budget

cftc

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

The cutbacks follow the December 17 failure of the US Senate to pass a $1.1 trillion omnibus appropriations bill to fund US federal government spending for the 2011 fiscal year. The withdrawal of the bill means the federal government is operating under a 'continuing

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