Commodity Futures Trading Commission member Michael V. Dunn said Wednesday that the regulator cannot fulfill its new duties under the Dodd-Frank Wall Street Reform Act unless it gets more funding.
“We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfill our pre-Dodd-Frank duties under the Commodity Exchange Act,’’ he said at a CFTC meeting on implementing the Dodd-Frank Act. “Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.’’
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