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In reaction to the Great Recession, the Dodd-Frank Wall Street Reform and Consumer Protection Act tasked the Commodity Futures Trading Commission (CFTC) with reining in excessive speculation and deterring and preventing market manipulation. Dodd-Frank granted the CFTC new enforcement tools and regulatory authority over non-security-based swaps, empowering the CFTC to make itself a premier financial regulator.
In a recent article in Bloomberg/BNA’s Securities Regulation & Law Report, Sutherland Partner Greg Kaufman analyzes CFTC enforcement actions from 2002 through 2012 by examining the volume and nature of the enforcement actions brought by year. Greg’s analysis found that, although the last two years have seen a substantial increase in the number of cases initiated, the character of those cases has not changed in a meaningful way from the types of cases brought in earlier years. Greg concludes that, in order for the CFTC to transform itself into a key financial regulator, priorities will have to change and additional resources will be needed.
View the full article.