Senate Democrat calls for probe of US derivatives regulator's staff cuts

A Senate Democrat called for a probe into staffing cuts at the U.S. derivatives regulator as concerns grow about enforcement capacity. On Tuesday, Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, urged the Government Accountability Office (GAO) to investigate changes at the Commodity Futures Trading Commission. She said the CFTC workforce has fallen about 25% since the start of last year, coinciding with a sharp decline in enforcement actions, according to reported coverage. Warren argued the cuts may materially impair the agency’s ability to carry out its legal mandate. The GAO is Congress’s independent auditing and investigative arm. The CFTC has said it expects to increase staffing and has sufficient resources, citing use of artificial intelligence. GAO and the CFTC did not respond immediately to requests for comment.