CFTC's Chilton argues for tax on derivatives trades

05/1/2013 | Reuters · Wall Street Journal, The

Bart Chilton, a member of the Commodity Futures Trading Commission, says he supports a fee on derivatives transactions to pay for better regulation. Besides raising money for the CFTC, a 0.06-cent levy on each trade could curb speculation, he says. "A targeted user fee will keep our agency able to regulate these growing and morphing markets," Chilton says in prepared comments. However, the idea of a tax on financial transactions would likely face significant opposition as it has never gained much traction in the U.S.

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Reuters · Wall Street Journal, The

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