CFTC Lease Issue To Get Congressional Hearing Amid Security Concerns

The Commodity Futures Trading Commission (CFTC) could be explaining an accounting error to the Senate Agriculture Committee, which is leading an investigation into the oversight, according to a Reuters report. In part behind the issue, according to multiple regulatory sources who spoke to ValueWalk, is office space leased in expectation that the regulator would be tasked with supervising previously unregulated bank derivatives. The CFTC is the primary government derivatives regulator, and the move to expand the office space came as security issues related to unknown derivatives risk exposures were said to have been hotly discussed behind the scenes. CFTC understates liabilities…