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ARTICLE · 02 OCTOBER 2017

CFTC Enforcement Director Offers Incentives For Cooperation And Self-Reporting

Hogan Lovells Cadwalader
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On September 25, 2017, CFTC Director of Enforcement James McDonald described an enforcement approach that emphasizes self-reporting and cooperation by regulated financial institutions.

United StatesFinance and Banking
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On September 25, 2017, CFTC Director of Enforcement James McDonald described an enforcement approach that emphasizes self-reporting and cooperation by regulated financial institutions.

In remarks before the New York University Institute for Corporate Governance & Finance, Mr. McDonald described a continuing dedication to vigorous prosecution combined with a new emphasis on cooperation and self-reporting in order to best achieve the mission of the CFTC to "foster open, transparent, competitive and financially sound markets." In addition to pursuing enforcement actions, Mr. McDonald stressed the importance of receiving buy-in from the companies regulated by the CFTC in order to safeguard these markets and achieve meaningful deterrence. The CFTC self-reporting and cooperation program, Mr. McDonald explained, is intended to incentivize companies to report violations and cooperate in CFTC investigations by making clear the "substantial" benefits of cooperation, such

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