The Dodd-Frank Act catapulted the once under-the-radar Commodity Futures Trading Commission into the ranks of the nation’s top regulators, notably through its mandated role in the forthcoming Volcker Rule and increased oversight of risky derivatives trades. The shift in influence, however, hasn’t translated into increased funding. Now, a new push is underway to bolster its budget.
President Barack Obama this week nominated Timothy Massad, a Treasury Department official, to replace outgoing chairman Gary Gensler. During the announcement, he addressed budget concerns at the agency.
