All Commodity Futures Trading Commission articles – Page 2
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Opinion
Five reasons I’m excited for CW’s Financial Crimes Summit
Compliance Week’s Financial Crimes and Regulatory Compliance Summit will feature more than 50 prominent speakers representing government agencies, regulators, banks, investment advisers, and more tackling the top-of-mind risk areas facing the financial services industry.
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News Brief
CFTC appoints first chief AI officer to lead data and AI strategy
The Commodity Futures Trading Commission appointed its first artificial intelligence chief to lead the agency’s efforts to further integrate AI into its operations.
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CFTC commissioner calls for AI framework in commodities markets
Kristin Johnson of the Commodity Futures Trading Commission called for the agency to launch initiatives addressing the use—and misuse—of artificial intelligence tools in commodities markets.
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CFTC enforcement head talks steep path to self-reporting credit
Earning self-reporting credit from the Commodity Futures Trading Commission is no simple task, Director of Enforcement Ian McGinley conceded.
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News Brief
CFTC lauds Australian swap dealer’s cooperation in $500K enforcement
The Commodity Futures Trading Commission ordered an Australian swap dealer to pay $500,000 over admitted supervision failures related to a deficient spoofing surveillance tool.
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DOJ commodities trader FCPA sweep offers lessons in cooperation
The value the Department of Justice places on cooperation can be measured by studying penalties and agreements resulting from the agency’s long-running investigation into bribery and corruption by oil traders operating in Latin America and Africa.
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News Brief
CFTC dings U.S. Bank, Oppenheimer over off-channel comms violations
The Commodity Futures Trading Commission announced settlements with U.S. Bank and Oppenheimer & Co. for admitted recordkeeping and supervision failures regarding employee use of off-channel communications for conducting business.
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News Brief
CFTC awards $1.25M to compliance/audit whistleblower
The Commodity Futures Trading Commission announced a landmark whistleblower award of approximately $1.25 million to an individual in an internal compliance or audit function who came forward with information on misconduct occurring at his or her employer.
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News Brief
CFTC appoints new head of whistleblower office
The Commodity Futures Trading Commission appointed Brian Young as director of its whistleblower office.
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Table: SEC, CFTC off-channel communications penalties
The Securities and Exchange Commission and Commodity Futures Trading Commission have combined to levy nearly $3.5 billion in penalties (so far) against firms and their affiliates in response to recordkeeping failures regarding employee use of off-channel communications for business purposes.
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News Brief
SEC, CFTC adopt rule for enhanced large hedge fund disclosures
Large hedge fund advisers will be required to disclose more information on their investment strategies, investment exposure, operations, and more as part of a rule change jointly adopted by the Securities and Exchange Commission and Commodity Futures Trading Commission.
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News Brief
CFTC seeking comment on applications of AI in compliance
The Commodity Futures Trading Commission would like to learn more about how regulated entities might be using artificial intelligence in their compliance efforts, along with other applications.
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News Brief
CFTC names chief data officer to boost analytic capabilities
The Commodity Futures Trading Commission announced two appointments to its Division of Data designed to help the agency leverage analytics and emerging technologies to improve its policymaking and oversight efforts.
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News Brief
Freepoint Commodities to pay $99M in Brazil bribery FCPA case
Freepoint Commodities agreed to pay nearly $99 million to settle allegations by the Department of Justice that it paid bribes to Brazilian government officials in return for business from state-owned oil company Petrobras.
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CFTC’s Pham: ‘There will likely be more’ CCOs charged with individual liability
Caroline Pham of the Commodity Futures Trading Commission said she expects the regulator to pursue more individual liability cases against chief compliance officers, in the aftermath of landmark charges laid against the former CCO at Binance.
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News Brief
CFTC proposes guidance for voluntary carbon credits
The Commodity Futures Trading Commission promoted the need for developing high-integrity voluntary carbon markets in publishing proposed guidance for the listing of voluntary carbon credit derivative contracts.
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Binance’s compliance past, future detailed
There are a slew of compliance lessons to be learned from the $4.3 billion settlement that Binance, the world’s largest cryptocurrency exchange, reached with the U.S. government.
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News Brief
Binance pleads guilty, fined $4.3B over widespread U.S. law violations
Federal agencies hit Binance with more than $4.3 billion in penalties and imposed multiple compliance monitorships on the virtual currency exchange as punishment for its repeated and intentional violations of U.S. anti-money laundering laws, sanctions, and other regulations.
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Opinion
No time like present to tackle thorny problem of off-channel comms
The new messaging on use off-channel communications for business should be clear: What was done before is no more. It cannot continue. The stakes are too high.
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How technology can help track off-channel communications use
Establishing a set of policies and procedures to prevent employee use of nonauthorized electronic communications to conduct business is relatively straightforward. The hard part is monitoring compliance.