- About CW
- Topics
- Events
- Research
- Membership
“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
CFTC’s Pham announces end to ‘regulation by enforcement,’ consolidates task forces
By 
Aaron Nicodemus2025-02-05T17:24:00
The Commodity Futures Trading Commission’s (CFTC) enforcement division will end the practice of “regulation by enforcement,” according to Acting Chair Caroline Pham.
Pham, a former compliance officer in the financial services industry who was named to lead the CFTC by President Donald Trump on Jan. 20, announced Tuesday the reorganization and consolidation of task forces under the CFTC’s Division of Enforcement. As a Republican, Pham has long been critical of what she called the agency’s practice of “regulation by enforcement” under the Democratic leadership.
After the CFTC fined Goldman Sachs $5.5 million in August 2023 for recordkeeping failures, Pham called the enforcement action “wrong” and “fundamentally unfair, unjust,” in a dissenting statement.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefPham cries CFTC overreach against compliance officer in $48M fine of TOTSA
The Commodities Futures Trading Commission fined TOTSA TotalEnergies Trading $48 million for allegedly engaging in price manipulation, with Commissioner Carolyn Pham defending a compliance officer at the Swiss energy company accused of making false statements.
-
Premium’Bait-and-switch’: Pham critical of CFTC self-reporting policy
Caroline Pham, a commissioner on the Commodity Futures Trading Commission, criticized the agency’s policy on credit for self-reporting violations as a “bait-and-switch.”
-
PremiumCFTC’s Pham critical of agency stances on CCO liability, self-disclosure credit
Caroline Pham, a commissioner at the Commodity Futures Trading Commission, said compliance officers have a lot to worry about if they or their firms are subject to CFTC enforcement during her fireside chat at CW’s Financial Crimes Summit.
More from Regulatory Policy
-
News BriefFinCEN drops BOI requirement for U.S. companies, persons
The U.S. Treasury Department’s Financial Crimes Enforcement Network issued a final interim rule that eliminates beneficial ownership information reporting obligations for U.S.-based companies and persons.
-
News BriefTrump nominates Fed’s Bowman as vice chair for supervision
Federal Reserve Board member Michelle Bowman has been nominated as the board’s vice chair for supervision, a position that oversees regulation of the nation’s largest banks.
-
PremiumExperts: Companies ‘underestimate risk’ as first provisions of EU AI Act come into force
A European Union-wide ban on AI systems with “unacceptable” risk came into force on Feb. 2 as the first provisions of the EU’s AI Act took effect. Problems persist, however, over what the legislation requires and what corporate practices or uses of data may risk flouting the rules.