Chinese securities firms attract global players

31 Jul 2006

Global banks were last week expected to ramp up their efforts to gain ownership stakes in Chinese securities firms as opportunities wait in equity derivatives.

A key incentive could be that those Chinese securities firms could soon gain greater ownership of domestic futures brokerages, sources said.

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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.