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CFTC makes pitch for self-reporting, cooperation in enforcement actions

Joe Mont | September 29, 2017

The Commodity Futures Trading Commission is putting the word out: self-reporting and cooperation may mitigate enforcement actions.

James McDonald, director of the CFTC’s Division of Enforcement, discussed his agency’s initiative in a Sept. 25 speech at New York University’s Institute for Corporate Governance & Finance and its program on Corporate Compliance & Enforcement.

“We recognize that enforcement actions alone aren’t enough to prevent misconduct in our market,” McDonald, a former federal prosecutor in the Southern District of New York, said. “It’s not enough for us to wait for violations to occur, detect as many as we can, and then prosecute as many of those as we’re able. That’s like playing a game of whack-a-mole—as soon as we bat down one...

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