EXCLUSIVE: CFTC enforcement head on criticism of self-reporting policy

Author: John Crabb | Published: 7 Dec 2017

Jamie McDonald, Director of the Division of Enforcement at the Commodity Futures Trading Commission (CFTC), gave a speech on September 25 at New York University on the agency’s new take on enforcement, specifically self-reporting and cooperation.

In the speech, he reaffirmed the commission’s mission to help bring about open and transparent markets, and, based on the prerequisite that most companies want to operate legally, outlined what they would expected from a company that wants to be treated as a self-reporter as well as 'the substantial benefits that come with it’.

Corresponding CFTC published guidance reinforced the importance that the enforcement division places on self-reporting and cooperation.

IFLR has now taken another look to find out what, if anything, has happened in the market since this change in priorities at the CFTC, speaking to a number of market participants to gather questions, before posing them to Director McDonald in...