2013-11-12 — go.com
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Obama is expected to use Massad's nominating ceremony to call on Congress to fully fund the CFTC, one of the smallest and most thinly funded U.S. agencies. The 2010 financial overhaul law gave the CFTC the task of laying down rules for oversight of derivatives, the complex instruments traded in a $700 trillion worldwide market that has been unregulated.
The agency has now completed 43 of the 60 rules it was charged with putting into motion under the overhaul law. By comparison, other regulators, including the Securities and Exchange Commission, have adopted roughly a third of their rules.
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