Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest. MORE

The CFTC’s Division of Enforcement, or DOE, has published its Enforcement Manual (see the link in the upper corner to download the Manual). This is the first issuance of a public Manual by DOE. The Manual provides an overview of the CFTC and DOE, and it establishes certain general policies and procedures that guide the work of DOE staff in detecting, investigating, and prosecuting violations of the Commodity Exchange Act, or CEA and CFTC Regulations.

CFTC Director of Enforcement James M. McDonald noted “The Manual creates no private rights.  And it’s not enforceable in court.  But it is important, we believe, to have clear policies to promote consistency across our Division, which spans multiple offices and teams.  Consistency and transparency as to these procedures should promote fairness, increase predictability, and enhance respect for the rule of law.”

Mr. McDonald also noted “The Manual is divided into eleven different sections, each addressing a different subject matter—ranging from how we generate and process leads, to how we investigate and litigate cases, to how we evaluate applicable privileges and issues of confidentiality.  In addition, the Manual discusses the Division’s Wells process, sets forth how we work in parallel with other civil and criminal agencies, lays out the various aspects of the Division’s self-reporting and cooperation program as well as the various tools we can use to recognize cooperation, and provides an overview of the Commission’s Whistleblower program, among other things.”

Leave a Reply

Your email address will not be published. Required fields are marked *