Commodity ETFs regulation in CFTC sights

05 Jun 2006

Commodity Futures Trading Commission (CFTC) has queried the regulatory status of ETFs based on commodities, with particular reference to the recently launched silver ETF listed on American Stock Exchange (Amex).

Speaking to Silver Users Association, CFTC commissioner Frederick Hatfield said that the securitisation of commodities, such as the Amex ETF, was an increasing phenomenon...

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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.