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COMMODITY FUTURES TRADING COMMISSION

1982 BUDGET

EXPLANATORY NOTES

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PURPOSE STATEMENT

The Commodity Futures Trading Commission (CFTC) administers the Commodity Exchange Act, as amended. The Commission has exclusive jurisdiction to regulate transactions involving contracts for future delivery and commodity options and leverage transactions.

The principal purpose of the Commodity Exchange Act is to further the economic utility of the futures markets by encouraging their efficiency, assuring their integrity, and protecting participants against abusive trade practices, fraud, and deceit. The CFTC's goal is to administer the Act consistent with the statutory purpose. Commodity futures trading regulation enables the markets to better serve their designated functions of providing a price discovery mechanism and a means of offsetting price risk. By properly serving these functions, the futures markets serve the public interest by contributing toward better planning, more efficient distribution and consumption, and more economical marketing.

There are four major program activities which support the CFTC's overall mission: (1) Market Surveillance, (2) Research and Education, (3) Registration, Audits and Contract Markets, and (4) Enforcement. These program activities are carried out in Washington, D.C.; regional offices located in Chicago, New York, Kansas City and San Francisco; and a suboffice in Minneapolis.

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[Exec. Direction/Support] ... [4,952,000] [5,600,000] [+ 748,000]

[6,348,000]

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