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 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.
The CFTC Division of Enforcement provided additional guidance to staff when proposing resolutions in enforcement actions. The guidance is intended to ensure resolutions that achieve deterrence and minimize future misconduct.