CFTC Chair Giancarlo Issues Statement on Agency Operations during Government Shutdown

CFTC Chair J. Christopher Giancarlo issued a statement on agency operations in the event of a lapse in funding.

According to Mr. Giancarlo, the CFTC will be required to cease operations other than those excepted under the Anti-Deficiency Act. Despite these restrictions, the CFTC will continue to carry out its "market-critical functions," he said. These functions include:

• monitoring futures and swaps markets;
• carrying out essential enforcement activities; and
• analyzing market activity in futures and swaps for "any potential impact on the clearing system."