CFTC Chair J. Christopher Giancarlo Defends FY 2020 Budget Request before Senate Subcommittee

CFTC Chair J. Christopher Giancarlo defended the CFTC FY 2020 Budget Request of $315 million before the U.S. Senate Committee on Appropriations Subcommittee on Financial Services and General Government. Mr. Giancarlo stated that the FY 2020 Budget Request will help the CFTC achieve "balanced market oversight."

As previously covered, the budget would support the CFTC's three broad initiatives: completing outstanding business, enhancing current operations, and preparing for the challenges of the digital age. Specifically, Mr. Giancarlo said $284 million would be used to support operations and provide for 707 full-time equivalents, and $31 million would be used for the relocation of three regional offices.