President Obama has proposed to substantially increase the budgets of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) as part of his 2011 fiscal year budget proposal.
The CFTC, which oversees most US futures and options, could receive an extra $93m, or 55% of its present annual budget of $168.8m, which would bring its total funding to $261m. The SEC, which regulates all derivatives linked to securities, could be given a budget of $1.13bn in 2011.
However, the increases in budgets will only be awarded if the US president’s plan for overhauling the US financial...