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.
CFTC Commissioner Christy Goldsmith Romero warned regulators of the danger of regulatory complacency and not to rollback critical Dodd-Frank post-crisis reforms. She highlighted the need for vigilant management of emerging risks in the cryptocurrency industry and as to the deployment of artificial intelligence in financial services.
The Government Accountability Office reviewed SEC compliance with the requirements of the Administrative Procedure Act and other various statutory requirements in connection with the adoption of a rule on investment company names.
CFTC Commissioner Summer K. Mersinger described current regulatory challenges in the energy and power markets, emphasizing the difficulty that regulators face in dealing with new technology under rules and regulations adopted before these advances are made.