Refco for sale

23 Feb 2004

Refco, the world's largest independent retail futures group, has put itself up for sale, according to several market sources on both sides of the Atlantic.

The firm is believed to have engaged an investment bank to handle the sale, estimated to be worth...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

The CFTC's Michael Dunn pleads for Congressional support over the regulator's budget.