By Aaron Nicodemus2024-08-20T15:26:00
A commissioner on the Commodity Futures Trading Commission (CFTC) criticized the agency’s policy on credit for self-reporting violations as a “bait-and-switch.”
On Monday, Brazil-based Raizen Energia was fined $850,000 by the CFTC and the Intercontinental Exchange Futures U.S. over wash trading allegations. CFTC Commissioner Caroline Pham in an accompanying statement said that the CFTC’s Enforcement Division did not provide recognition or cooperation credit despite the company self-reporting its violations.
“ … By creating an impossible-to-meet standard for receiving cooperation credit, or by being arbitrary in the application of any standard, the CFTC’s policy on self-reporting looks a lot like bait-and-switch,” she said.
2025-09-08T14:27:00Z By Adrianne Appel
BNY, Citigroup, Santander, UBS, and two other financial institutions paid a total of $8.3M to settle separate compliance violations with the CFTC.
2025-02-26T18:44:00Z By Aaron Nicodemus
The CFTC issued new guidance for firms seeking to self-report misconduct, accompanied by a “mitigation credit index” that details how “exemplary” cooperation and remediation can knock up to 55 percent off the final penalty. The agency is the first enforcement agency to issue self-reporting guidance under President Donald Trump.
2025-02-05T17:24:00Z By Aaron Nicodemus
The Commodity Futures Trading Commission’s enforcement division will end the practice of “regulation by enforcement,” according to Acting Chair Caroline Pham.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
2025-10-01T21:10:00Z By Neil Hodge
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
2025-09-29T19:09:00Z By Adrianne Appel
Regulatory relief from anti-money laundering rules is in the cards for casinos, insurance companies and other non-bank financial institutions, the U.S. Treasury Department’s Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday.
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