Electronic Trading Leading To Data Deluge for CFTC Enforcement
Triage. The agency is ‘‘constantly in a situation of triage where we have to allocate available resources to the greatest need. This situation largely means that things get delayed and delayed,’’ CFTC spokesman Steven Adamske told Bloomberg BNA. Some enforcement investigators are thousands of hours behind, ‘‘and they never catch up,’’ Adamske said. In fiscal 2016, for example, the agency asked for $322 million in funding but received only $250 million, of which approximately $53 million was dedicated to enforcement (47 SRLR 296, 2/9/15). The commission currently is operating under a continuing resolution, as Congress still hasn’t settled on a final figure for fiscal 2017. The CFTC told Congress in its fiscal 2017 budget request that it doesn’t have the resources to fulfill its enforcement mission and anticipates more time-intensive and complex investigations in the future.
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