The Obama administration’s fiscal 2013 budget renews a user-fee proposal on entities policed by the Commodity Futures Trading Commission as a way to boost the agency’s funding as it begins to oversee the $600 trillion over-the-counter derivatives market. The spending plan calls for fully funding the agency’s proposed $308 million budget through fees authorized by Congress, up from the agency’s roughly $205 million enacted budget for the current fiscal year that ends Sept. 30. It is the second consecutive year the administration has proposed a $308 million budget for the agency. More in the Wall Street Journal here.
