In yesterday's newsletter, we identified two CFTC Advisories as newly updated guidance on cooperation that can affect civil monetary penalties in enforcement actions. The updates are current, but they are not new.
News & Insights
The CFTC Division of Enforcement issued guidance as to the standard by which it assesses a firm's level of cooperation with enforcement investigations.
The CFTC reported enforcement results for Fiscal Year 2023. The agency highlighted a "record-setting" number of digital asset cases, actions to hold registrants to their regulatory obligations, actions concerning manipulation and spoofing and precedent-setting court decisions in complex litigations.
The Inter-Agency Working Group for Treasury Market Surveillance reported progress on efforts to ensure that the Treasury market "remains the deepest and most liquid market in the world and a central component of the financial system."
The CFTC reported that over the past fiscal year, it granted seven applications totaling approximately $16 million in cases in which individuals voluntarily provided original information that led to successful enforcement actions.