The budget of the Commodity Futures Trading Commission would be cut by 15%, or $30 million, under a measure passed by the U.S. House.
The Republican spending bill approved today would reduce the agency’s budget to $172 million from its current level of $202 million. The CFTC is responsible for writing most of the new rules to govern derivatives trades made by banks including Goldman Sachs Group Inc. (GS) and Morgan Stanley. (MS)
Read the rest of the story here.
