The Republican-led Commodity Futures Trading Commission, which regulates the derivatives market, spoke out against the money it was allocated in President Trump's budget proposal, saying it needs an extra $31.5 million on top of its $250 million allocation to operate as intended.
The White House proposed to keep the CFTC and Securities and Exchange Commission budgets flat in his proposal. The SEC budget was set at $1.6 billion.
The CFTC was granted broad regulatory powers to police the over-the-counter derivatives market in 2010 following the passage of the Dodd-Frank bill.
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