CFTC Releases Annual FY 2014 Performance Report and FY 2016 Performance Plan

The CFTC released its FY 2014 Annual Performance Report ("Report") and FY 2016 Annual Performance Plan ("Plan"). Together, they provide an overview of the CFTC's performance and information about its achievements and challenges.

The Report stated that in FY 2014, the CFTC made progress toward achieving its "mission and strategic goals." However, the Report noted, progress was hampered by the resource constraints and reallocations involved in writing and maintaining rules required under Dodd-Frank. The Report also stated that although the CFTC's "regulatory purview has expanded in scope, scale and complexity" under Dodd-Frank, the CFTC has not been provided with the "commensurate increase in budget authority to oversee the markets and market participants," which limits its effectiveness in overseeing markets.

The Report announced that a new Strategic Plan will be introduced starting with the next FY 2015 performance cycle, and that the new plan will outline a new set of performance goals. Additionally, through analysis of the FY 2014 to FY 2018 Strategic Plan, the CFTC outlined 38 performance goals that will be baselined with targets established in the Plan. Accordingly, the CFTC intends to monitor these goals on a quarterly basis, provide better and more frequent assessments of its accomplishments to leadership, and offer division and office directors more time to make adjustments where warranted.

See: CFTC 2014 Annual Performance Report and FY 2016 Annual Performance Plan.