Editing Commodity Futures Trading Commission (section)

==Funding/budget==
Unlike the other four main financial regulators, the CFTC does not have self-funding. A transaction fee has been "requested" for several years but Congress has not taken any legislative action. During the government shut down in October 2013, SEC and Federal Reserve stayed open, but "futures and most swaps markets were left with essentially no cop on the beat".<ref name=Chilton />

In 2007, the CFTC's  budget was {{US$|long=no|98 million}} and it had 437 full-time equivalent employees (FTEs). After 2008, funding increased by 80% to {{US$|long=no|205 million}} and 687 FTEs for fiscal year (FY) 2012, but was cut to {{US$|long=no|180.4 million}} and 682 FTEs for FY 2013.<ref>{{cite news |title=House panel sticks with CFTC funding cut|url=https://www.reuters.com/article/us-usa-cftc-funding-idUSBRE85I1FD20120619|access-date=March 14, 2014|newspaper=Reuters.com|date=Jun 19, 2012|quote=Georgia Republican Jack Kingston faulted the CFTC for not preventing or foreseeing the collapse of M.F. Global last year or J.P. Morgan's loss of more than $2 billion in derivatives trade this year. "We spent a lot of money. What did we get for it? Zero," said Kingston, adding, "We're not seeing brilliance."}}</ref> In 2013 CFTC's performance was severely affected by limited resources and had to delay cases.<ref>{{cite news |title=CFTC Backs Off, Lacking Funding|url=https://www.wsj.com/news/articles/SB20001424052702303843104579169901294571302 |access-date=March 14, 2014|newspaper=WSJ.com|date=November 1, 2013|author=Jean Eaglesham}}</ref> The current, FY 2014 funding of {{US$|long=no|215 M}} did not keep up with CFTC's increasing swaps market oversight and regulation, equivalent to tens of trillions of dollars in formerly dark market trading, according to outgoing Commissioner Bart Chilton in his last speech.<ref name=Chilton>{{cite web|title=Statement of Commissioner Bart Chilton on the President's FY 2015 Budget |url=http://www.cftc.gov/PressRoom/SpeechesTestimony/chiltonstatement030414|work=Press Room|publisher=CFTC|access-date=March 14, 2014 |date=March 4, 2014}}</ref> The Obama administration's latest budget proposal for FY 2015 requested {{US$|long=no|280 M}}, which is {{US$|long=no|35 M}} less than the request for the previous year,<ref>{{cite news|title=Obama to Request 30% Bump in CFTC Funding|url=https://www.wsj.com/articles/obama-to-request-30-bump-in-cftc-funding-1393639312|access-date=March 14, 2014 |newspaper=WSJ|date=February 28, 2014|author=Andrew Ackerman}}</ref> and would fund "100 less employees than we need" per Chilton, who called the budget "woefully insufficient" for CFTC's more than 40-fold increased purview.<ref name=Chilton />
In February 2014, Commissioner Scott D. O'Malia dissented from the FY 2014 spending plan saying that it did not allocate enough funding to new technology investments, but allocated too much to swap dealer oversight, duplicating the work of the self-regulatory [[National Futures Association]].<ref>{{cite web|title=Statement of Dissent by Commissioner Scott D. O'Malia, Fiscal Year 2014 Spending Plan|url=http://www.cftc.gov/PressRoom/SpeechesTestimony/omaliastatement022714|work=Press Room |publisher=CFTC |access-date=March 14, 2014|date=February 27, 2014}}</ref> In March he dissented from the FY 2015 budget request stating CFTC "makes an unrealistic request for new staff and funding in this budget request without a firm understanding of its mission priorities, specific goals, and corresponding personnel and technology needs."<ref>{{cite web|title=Statement of Dissent by Commissioner Scott D. O'Malia, Fiscal Year 2015 President's Budget & Performance Plan |url=http://www.cftc.gov/PressRoom/SpeechesTestimony/omaliastatement030514 |work=Press Room |publisher=CFTC|access-date=March 14, 2014 |date=March 5, 2014}}</ref>

In December 2019, the CFTC secured funding of {{US$|long=no|284 million}} for FY2020, an increase of nearly 6 percent from the {{US$|long=no|268 million}} appropriated for FY2019.<ref>{{cite news |last1=Mejdrich |first1=Kellie |title=Twitter |url=https://twitter.com/kelmej/status/1206707360045129728 |date=December 16, 2019}}</ref> Chairman Tarbert commented that this "fully matched" the CFTC's request, the first time that had happened in "nearly a decade.<ref>{{cite web |last1=Tarbert |first1=Heath |title=Tweet on December 16, 2019 |url=https://twitter.com/ChairmanHeath/status/1206737517032202240 |website=Twitter.com |access-date=24 April 2020}}</ref>"