The CFTC is requesting significantly more resources from the FY 2012 budget, requesting an appropriation of $308 million and 1,015 full time employees. This is approximately a 50% increase in funding and a 43% increase in staff.
Gensler testified the increase is necessary due to the demands placed on the CFTC by the Dodd-Frank Act. The Dodd-Frank Act mandates that the CFTC begin regulating the swaps market and to continue to regulate the growing futures market.
Effectively overseeing these markets depends on adequate funding for the agency’s expanded missionRead Gensler’s full testimony.