FAQs
The CFTC takes enforcement actions against individuals and firms registered with the Commission, those who are engaged in commodity futures and option trading on designated domestic exchanges, and those who improperly market futures and options contracts.
What enforcement powers does the CFTC have? ›
The Commission must authorize all enforcement actions, and the CFTC has the power to bring such actions either administratively (before administrative law judges or other appointed presiding officers) or in federal court. Learn more about developments involving the CFTC's enforcement program: Enforcement Press Releases.
Can CFTC prosecute criminally? ›
Criminal activity involving commodity-related instruments can result in prosecution for criminal violations of the CEA and for violations of other federal criminal statutes, including commodities fraud, mail fraud, wire fraud and conspiracy.
Who is the head of enforcement for the CFTC? ›
Ian McGinley is the Director of the Commodity Futures Trading Commission's Division of Enforcement.
Who enforces the Commodity Exchange Act? ›
CFTC Enforcement Overview
The Commission, through its Division of Enforcement, investigates violations of the Commodity Exchange Act (CEA) and the CFTC Regulations.
What is the CFTC red flag rule? ›
The CFTC's “red flags” rule (17 C.F.R. §162) requires financial institutions and creditors to develop and implement a written identity theft prevention program designed to detect, thwart, and mitigate identity theft in connection with certain existing accounts or the opening of new accounts.
Who governs the CFTC? ›
The Commission consists of five Commissioners appointed by the President of the United States to serve staggered five-year terms. The President, with the consent of the United States Senate, designates one of the commissioners to serve as chairman.
What is the difference between SEC and CFTC? ›
The CFTC, established in 1974, governs derivatives markets with a focus on futures contracts, options, and swaps. On the other hand, the SEC, formed in 1934, safeguards investors and ensures the fair functioning of securities markets.
What does the CFTC do? ›
The Commodity Futures Trading Commission (CFTC) protects the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to fosters open, competitive, and financially sound futures and option markets.
How do I file a complaint with the CFTC? ›
Consumer Assistance and Complaints: Call Toll-Free 1-866-FON-CFTC (866-366-2382), or use the Tips and Complaints Form.
You file your complaint within two years of the date the violation occurred or within two years of the date you should have known of the violation.
What is the statutory authority of the CFTC? ›
The CEA establishes the statutory framework under which the CFTC operates. Under this Act, the CFTC has authority to establish regulations that are published in title 17 of the Code of Federal Regulations.
What is the difference between Dodd Frank and CFTC? ›
Dodd Frank divided regulatory authority over OTC derivatives between the US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC). The SEC regulates Security-Based Swaps (SBS) and Security-Based Swap Dealers (SBSD). The CFTC regulates Swaps and Swap Dealers (SD).
What is the jurisdiction of the CFTC? ›
Specifically, the CFTC has exclusive jurisdiction over “accounts, agreements (including transactions of the character of or commonly known to the trade as an 'option', 'privilege', 'indemnity', 'bid', 'offer', 'put', 'call', 'advance guaranty', or 'decline guaranty'), and transactions involving swaps or contracts of ...
What is the CFTC whistleblower law? ›
The CFTC's Whistleblower Program provides monetary incentives to individuals who report possible violations of the Commodity Exchange Act that lead to a successful enforcement action, as well as privacy, confidentiality, and anti-retaliation protections for whistleblowers.
Does the SEC oversee the CFTC? ›
The SEC and CFTC were created by different laws, have different responsibilities, and use different methods to fulfill those responsibilities. The most basic difference between the two entities is that the SEC regulates the securities market and the CFTC regulates the derivatives market.
