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CFTC Will Flex Dodd-Frank Muscle In 2014 

February 24, 2014
Erika Kelton, Forbes

This year could be a big one for enforcement efforts by the Commodity Futures Trading Commission for a good reason:  Whistleblowers.

The demands on CFTC enforcement have increased tremendously due to the Dodd-Frank Act. The CFTC now has jurisdiction over the $400 trillion swaps market, in addition to its longstanding futures portfolio.  Yet, the CFTC is admittedly understaffed and underfunded. Its budget is expected to increase only slightly to $215 million for fiscal year 2014 – a $10 million increase over last year but $100 million less than it had requested.

What has been overlooked in discussions about the CFTC’s expanding enforcement obligations and constrained budget is the CFTC whistleblower reward program created by Dodd-Frank. Although the Securities and Exchange Commission has gotten more attention for its whistleblower program, whistleblowers have been turning to the CFTC to report a wide array of fraudulent practices – from price manipulation to Ponzi schemes.

Read more: Forbes

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