Project 2025 Tracker / What’s done, what’s next

27. Financial Regulatory Agencies · Minor

Shift CFTC resources to core agency functions

Not started

834 27. Financial Regulatory Agencies

“Allocate more resources to core agency functions rather than ancillary and support operations.”

What has happened

  1. Not started

    The CFTC's own budget moves the other way. Its FY2027 President's Budget, published on cftc.gov, sets out the request by division: Enforcement falls from $63,992,000 and 140 FTE actual in FY2025 to $52,757,000 and 108 FTE requested for FY2027, and the Office of International Affairs from $6,662,000 and 15 FTE to $5,114,000 and 11 FTE, while Administration rises from $104,702,000 to $120,235,000 and the Offices of the Chairman and the Commissioners from $14,525,000 and 31 FTE to $19,401,000 and 40 FTE. Administration alone is $120.2 million of the $410 million request, a larger share than its FY2025 actual, and the four front-line market divisions together fall from 45.7 percent to 41.6 percent of the total. No directive, reorganization or budget document in the window proposes shifting resources from support operations to core functions.

Research log

What was searched, and what didn’t count as evidence

Research notes

The ask is a resource-allocation ask with no named instrument, so it was leveled from the agency’s own budget, the way #2146 was leveled for the SEC.

  • Table 2 of the CFTC’s FY2027 President’s Budget (FY2025 actual → FY2027 request, $000 and FTE): Enforcement 63,992/140 → 52,757/108; Market Oversight 42,690/98 → 48,511/107; Clearing and Risk 36,007/82 → 40,989/91; Market Participants 25,252/57 → 28,374/63; Office of the General Counsel 32,068/62 → 35,997/65; Office of International Affairs 6,662/15 → 5,114/11; Data 37,064/35 → 52,660/37; Administration 104,702/130 → 120,235/116; Office of the Chairman and Commissioners 14,525/31 → 19,401/40; Office of the Inspector General 4,192/9 → 5,963/12. Total 367,153/659 → 410,000/650.
  • Read either way the ask is not met. Counting Enforcement, Market Oversight, Clearing and Risk and Market Participants as the core, they fall from 45.7% to 41.6% of the total; adding Data, from 55.8% to 54.5%. Administration rises in dollars and in share.
  • The budget document is dated only by fiscal year, so the event is dated to the day it was read; the figures are the FY2025 actual and the FY2027 request it prints.
  • No CFTC reorganization directive was found. The Commission’s own note to Table 2 records one internal change in the window — “the Office of the Chief Economist … was reorganized during FY 2025” into the Division of Market Oversight — which is a consolidation of an analytical office into a front-line division, not a shift of resources out of support operations. cftc.gov is fully open and its whole press-release index for the window (554 releases) was swept; nothing announces a reallocation to core functions.
  • The FY2027 Budget Appendix for the CFTC (https://www.govinfo.gov/content/pkg/BUDGET-2027-APP/pdf/BUDGET-2027-APP-2-30.pdf) prints only an object-classification table, not a program-activity table, which is why the agency’s own budget book is the source here.
Action
transfer
Object
CFTC resources allocated to ancillary and support operations
ID
2159