- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-09-20T16:19:00
A Democratic commissioner at the Commodity Futures Trading Commission (CFTC) would like the agency to stop offering no-fault settlements as a matter of routine but instead force more individuals and corporations to accept responsibility for their wrongdoing.
Christy Goldsmith Romero, a former federal law enforcement official who joined the CFTC in March, called on the commission to consider using a test to “identify those cases calling for greater public accountability and transparency—where the CFTC should send a message about the paramount importance and strength of our enforcement program.”
Goldsmith Romero called for the CFTC to use a “Heightened Enforcement Accountability and Transparency” (HEAT) test that would “require more defendants to admit wrongdoing in CFTC enforcement settlements,” she said in a statement issued Monday.
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The Commodity Futures Trading Commission will consider increasing its enforcement penalties in certain cases to deter future violations of commodities law and punish repeat offenders.
Businesses take varying approaches when self-reporting to regulatory agencies, which can lead to differing results. Caroline Pham, a commissioner at the Commodity Futures Trading Commission, suggests using common sense.
The Commodity Futures Trading Commission highlighted its enforcement accomplishments from the 2022 fiscal year, including more than $2.5 billion ordered through restitution and penalties across 82 actions.
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When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
