Dissent of Commissioner Scott D. O’Malia To Fiscal Year 2012 President’s Budget Performance Plan

CFTC Remarks

February 11, 2011

CFTC Commissioner Scott O'Malia issues a dissent from signing the fiscal year 2012 budget request for the CFTC, which requests a 45% increase in federal spending from FY'11 levels, and provides for the hiring of 316 additional Full Time Equivalent employees in FY'12 and an additional 218 contractors. O'Malia complains that "this budget fails to outline a specific strategy for implementation of the Dodd-Frank Act that utilizes technology as a means to leverage budgetary and staff resources in fulfilling the Commission's oversight and surveillance responsibilities."