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SEC, CFTC make their pitch for boosted budgets

Joe Mont | July 5, 2017

Its that time of the year again that sends chills though government agencies. Against the backdrop of a new president in office for the first time in eight years, budget negotiations are afoot.

In recent days the Senate Appropriations Committee, through various subcommittees, has held hearings with agency heads to discuss Fiscal Year 2018 budgets. Chairman Shelley Moore Capito (W.Va.) presided over a June 27 hearing with the Securities and Exchange Commission and Commodity Futures Trading Commission.

Both agencies are seeking increases for fiscal year 2018. The SEC is requesting $1.8 billion, which is $242 million, or 15 percent, higher than FY 2017. Since FY 2000, the SEC budget has grown from $377 million to now $1.6 billion.

The CFTC is requesting $281.5 million, 11 percent more than FY 2017. For comparison, the CFTC was funded at $62.7 million in... To get the full story, subscribe now.