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Commentary by Bob Zwirb

The CFTC Office of Inspector General ("OIG") alleged that the CFTC's stress-testing capabilities for testing margin models associated with uncleared swaps have been undermined by "a failure of leadership, poor decision-making, and territoriality" in the Risk Surveillance Branch of the Division of Clearing and Risk. The report by the OIG resulted from allegations of mismanagement conveyed to it "by multiple CFTC whistleblowers." The allegations, which appear in the OIG's Semiannual Report issued on December 14, 2018, and which refer to a report by the same office issued earlier in the year