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CFTC Acting Chair Reorganizes Enforcement Division Task Forces

"This simplified structure will stop regulation by enforcement and is more efficient. These much-needed changes will maximize the CFTC's resources to bring more actions to pursue fraudsters and other bad actors, and not punish good citizens."
Caroline D. Pham, CFTC Acting Chair
"This simplified structure will stop regulation by enforcement and is more efficient. These much-needed changes will maximize the CFTC's resources to bring more actions to pursue fraudsters and other bad actors, and not punish good citizens."
Caroline D. Pham, CFTC Acting Chair

CFTC Acting Chair Caroline D. Pham consolidated the agency's existing enforcement task forces into (i) the Complex Fraud Task Force and (ii) the Retail Fraud and General Enforcement Task Force.

According to the CFTC Release, the Complex Fraud Task Force "will be responsible for all preliminary inquiries, investigations, and litigations relating to complex fraud and manipulation across all asset classes". The Retail Fraud and General Enforcement Task Force "will focus on retail fraud and handle general enforcement matters involving other violations of the Commodity Exchange Act."

Ms. Pham said the new simplified structure will "better leverage staff expertise to more efficiently utilize the CFTC's resources to prevent fraud, manipulation, and abuse and ensure market integrity." She said the new structure will also provide "enhanced governance and oversight of enforcement matters to prevent overreach and enhance consistency, fairness, and due process."

Primary Sources

  1. CFTC: Press Release: CFTC Division of Enforcement to Refocus on Fraud and Helping Victims, Stop Regulation by Enforcement

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Tags

Regulated Activities
Regulatory Structure
Sub-Activity
Fraud
Regulated Entities
Regulatory Agencies
Body of Law
CEA Regulation
Jurisdiction
US - Federal
Organization
CFTC, NFA, CFTC Markets
Sub-Author
CFTC