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CFTC Organization
For the past seven years, Kat has been helping people make the best financial decisions for their unique situations, whether they’re looking for the right insurance policies or trying to pay down debt. Kat has expertise in insurance and student loans, and she holds certifications in student loan and financial education counseling. If you’re relatively new to investing, making sense of terms like these can be a daunting task. All of them are complex financial instruments that are regulated by the Commodity Futures Trading Commission. As its name suggests, the Division of Enforcement (DOE) is charged with detecting, investigating, and prosecuting violations of the Commodity Exchange Act (CEA) and CFTC regulations. why bitcoin buyers should beware of unregulated exchanges Michelle P. Scott is a New York attorney with extensive experience in tax, corporate, financial, and nonprofit law, and public policy.
It ensures that these markets are efficient, fair, and transparent and that can stablecoins be stable all market participants comply with applicable laws and regulations. The agency also fosters healthy competition among market participants and protects investors from fraudulent activities. These intermediaries include, but are not limited to, futures commission merchants, introducing brokers (IBs), swap dealers (SDs), commodity pool operators (CPOs), and commodity trading advisors (CTA). In 1974, the federal government established the Commodity Futures Trading Commission as an independent government agency that regulates trading in options and futures.
If you’re interested in derivatives contracts, it’s a good idea to know something about how they are regulated, where you can go to find information about brokers, and how to file a complaint if you run into a problem. The articles and research support materials available on this site are educational and are not intended to be investment or tax advice. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
Our writing and editorial staff are a team of experts holding advanced financial designations and have written for most major financial media publications. Our work has been directly cited by organizations including Entrepreneur, Business Insider, Investopedia, Forbes, CNBC, and many others. Finance Strategists is a leading financial education organization that connects people with financial professionals, priding itself on providing accurate and reliable financial information to millions of readers each year. For information pertaining to the registration status of 11 Financial, please contact the state securities regulators for those states in which 11 Financial maintains a registration filing.
The Commission
- To support the commissioners, the CFTC has many different divisions and offices, such as the Office of the Chief Economist and the Division of Market Oversight.
- OTI regularly advocates for the advancement of responsible innovation, industry collaborations, and public outreach and education.
- As such it has the ability to review all of the Commission’s programs, activities, and records.
- All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.
- This could make capital markets ineffective at efficiently allocating financial resources to the most deserving means of production and productive economic activities to the detriment of investors, consumers, and society.
The president designates one of these commissioners as the chair, and no more than three commissioners at any one time can come from the same political party. The CFTC is entirely funded by fees and charges collected from the entities it regulates. The Commodity Futures Trading Commission promotes diversity, inclusion, and fair hiring throughout its organization. This team assists with federal legislative requirements, negotiates with counterparties to resolve cases, and prepares for enforcement cases that are taken to court. The Division of Administration (DA) operates an array of services that collectively aim to ensure efficient and effective internal operations throughout the agency. The Division of Data (DOD) manages the Commodity Futures Trading Commission’s strategies and approaches toward the analysis, visualization, and storage of data.
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OCE plays an integral role in the implementation of new financial market regulations by providing economic expertise and cost-benefit considerations underlying those regulations. Futures contracts for agricultural commodities have been traded in the United States for more than 150 years and have been under Federal regulation since the 1920s. When the CFTC was created in 1974 with the enactment of the Commodity Futures Trading Commission Act, most futures trading took place in the agricultural sector. Over the years, the futures industry has become increasingly varied and complex. This was mostly unregulated until the CFTC was given responsibility for oversight by the Dodd-Frank Act of 2010, after problems that emerged in the financial crisis. By maintaining records of outstanding contracts, the CFTC staff can evaluate the amount of risk created by swap activity.
Division of Market Oversight (DMO)
The Office of the Chairman consists of the CFTC’s Chairman and Chief Executive and his or her dedicated staff. Led by the Chairman, these officials direct the day-to-day management of the agency, coordinate Commission business, and shape the CFTC’s regulatory and enforcement agenda. The SEC and the CFTC do have some areas of overlap, and with the rise of digital assets like cryptocurrency, there is some debate about which agency should be the primary regulator. To date, both agencies have taken enforcement actions related how to buy metaverse nft to digital assets. The SEC has treated cryptocurrencies as securities, while the CFTC has viewed some cryptocurrencies as commodities, making it difficult to make a clear-cut determination on which agency should regulate crypto. One of the commissioners is selected as the chairman by each president and confirmed by the Senate.
Commodity Futures Trading Commission (CFTC)
The office is responsible for helping the public spot, avoid, and report fraud that involves commodities or derivatives trading. Office of Legislative and Intergovernmental Affairs (OLIA)The Office of Legislative and Intergovernmental Affairs provides support on matters before the U.S. Congress and serves as the Commission’s official liaison with Members of Congress, federal agencies, and the Administration. In this role, OLIA develops and executes legislative strategy on behalf of the Chairman and Commission, manages congressional testimony, and works with the various divisions to provide technical assistance on legislation. The mission of the Commodity Futures Trading Commission is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation.