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The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of
options Option or Options may refer to: Computing *Option key, a key on Apple computer keyboards *Option type, a polymorphic data type in programming languages *Command-line option, an optional parameter to a command *OPTIONS, an HTTP request method ...
. The
Commodity Exchange Act Commodity Exchange Act (ch. 545, , enacted June 15, 1936) is a federal act enacted in 1936 by the U.S. Government, with some of its provisions amending the Grain Futures Act of 1922. The Act provides federal regulation of all commodities and fut ...
(CEA), ''et seq.'', prohibits fraudulent conduct in the trading of futures, swaps, and other derivatives. The stated mission of the CFTC is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation. After the
financial crisis of 2007–08 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of f ...
and since 2010 with the
Dodd–Frank Wall Street Reform and Consumer Protection Act The Dodd–Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd–Frank, is a United States federal law that was enacted on July 21, 2010. The law overhauled financial regulation in the aftermath of the Great Rece ...
, the CFTC has been transitioning to bring more transparency and sound regulation to the multitrillion dollar swaps market.


History

Futures contracts for agricultural commodities have been traded in the U.S. for more than 150 years and have been under federal regulation since the 1920s. The Grain Futures Act of 1922 set the basic authority and was changed by the
Commodity Exchange Act Commodity Exchange Act (ch. 545, , enacted June 15, 1936) is a federal act enacted in 1936 by the U.S. Government, with some of its provisions amending the Grain Futures Act of 1922. The Act provides federal regulation of all commodities and fut ...
of 1936 (7 U.S.C. 1 et seq.). Since the 1970s, trading in futures contracts has rapidly expanded beyond traditional physical and agricultural commodities into a vast array of financial instruments, including foreign currencies, U.S. and foreign government securities, and U.S. and foreign stock indices. Congress created the CFTC in 1974 as an independent federal regulatory agency. The Commodity Futures Trading Commission Act of 1974 (P.L. 93-463) created the CFTC to replace the U.S. Department of Agriculture's
Commodity Exchange Authority The Commodity Exchange Authority was a former regulatory agency of USDA. It was established to administer the Commodity Exchange Act of 1936; it was the predecessor to the Commodity Futures Trading Commission The Commodity Futures Trading Commi ...
. The Act made extensive changes to the Commodity Exchange Act (CEA) of 1936, which itself amended the original Grain Futures Act of 1922. (7 U.S.C. 1 et seq.). In 1975, the first members were selected, and also its first chairman. The CFTC's mandate was renewed and expanded in December 2000 when Congress passed the Commodity Futures Modernization Act of 2000, which instructed the
Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market ...
(SEC) and the CFTC to develop a joint regulatory regime for single-stock futures, the products of which began trading in November 2002. In 2010, the
Dodd–Frank Wall Street Reform and Consumer Protection Act The Dodd–Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd–Frank, is a United States federal law that was enacted on July 21, 2010. The law overhauled financial regulation in the aftermath of the Great Rece ...
expanded the CFTC's regulatory authority into the swaps markets. The swaps markets currently have a notional value of more than $400 trillion.


Regulated markets

The CFTC oversees the derivatives markets by encouraging their competitiveness and efficiency, ensuring their integrity, protecting market participants against manipulation, abusive trading practices, fraud, and ensuring the financial integrity of the clearing process. The CFTC generally does not directly regulate the safety and soundness of individual firms, with the exception of newly regulated swap dealers and major swap participants, for whom it sets capital standards pursuant to Dodd–Frank. Through oversight, the CFTC enables the derivatives markets to serve the function of price discovery and offsetting price risk. As of 2014 the CFTC oversees 'designated contract markets' (DCMs) or exchanges, swap execution facilities (SEFs), derivatives clearing organizations, swap data repositories (SDRs), swap dealers,
futures commission merchant A commodity broker is a firm or an individual who executes orders to buy or sell commodity contracts on behalf of the clients and charges them a commission. A firm or individual who trades for his own account is called a trader. Commodity contra ...
s, commodity pool operators and other intermediaries. The CFTC coordinates its work with foreign regulators, such as its UK counterpart, the
Financial Conduct Authority The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financ ...
, which supervises the London Metal Exchange.


Over-the-counter derivatives

In 1998 CFTC chairperson
Brooksley E. Born Brooksley Elizabeth BornCalifornia Births, 1905 - 1995Brooksley Elizabeth Born/ref> (born August 27, 1940) is an American attorney and former public official who, from August 26, 1996, to June 1, 1999, was chair of the Commodity Futures Trading ...
lobbied Congress and the President to give the CFTC oversight of 'off-exchange markets' for
over-the-counter Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid prescr ...
(OTC) derivatives in addition to its existing oversight of exchange-traded derivatives,"Concept Release Concerning Over-The-Counter Derivatives market"
CFTC Release #4142-98, May 7, 1998.
but her warnings were opposed by other regulators.Goodman, Peter S

', ''
The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...
'', October 9, 2008.
Two actions by the CFTC in 1998 led some market participants to express concerns that the CFTC might modify the "Swap Exemption" and attempt to impose new regulations on the swaps market. First, in a February 1998 comment letter addressing the SEC's "broker-dealer lite" proposal, the CFTC stated that the SEC's proposal would create the potential for conflict with the Commodity Exchange Act (CEA) to the extent that certain OTC derivative instruments fall within the ambit of the CEA and are subject to the exclusive statutory authority of the CFTC. In May 1998 the CFTC issued a 'concept release' requesting comment on whether regulation of OTC derivatives markets was appropriate and, if so, what form such regulation should take. Legislation enacted in 1999 at the request of the
US Treasury The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and ...
, the
Federal Reserve Board The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the m ...
, and the SEC limited the CFTC's rulemaking authority with respect to swaps and hybrid instruments until March 30, 1999, and froze the pre-existing legal status of swap agreements and hybrid instruments entered into in reliance on the 'Swap Exemption', the 'Hybrid Instrument Rule', the 'Swap Policy Statement, or the 'Hybrid Interpretation'. The text of that act read: "...the Commission may not propose or issue any rule or regulation, or issue any interpretation or policy statement, that restricts or regulates activity in a qualifying hybrid instrument or swap agreement". Shortly after Congress had passed this legislation prohibiting CFTC from regulating derivatives, Born resigned. She later commented the failure of
Long-Term Capital Management Long-Term Capital Management L.P. (LTCM) was a highly-leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York. LTCM was founded in ...
and the subsequent bailout as being indicative what she had been trying to prevent.Born was the focus of an October 2009 Frontline documentary titled "The Warning" and was also chronicled in the documentary '' Inside Job''. The two films recount her attempts to investigate and regulate the OTC
derivative In mathematics, the derivative of a function of a real variable measures the sensitivity to change of the function value (output value) with respect to a change in its argument (input value). Derivatives are a fundamental tool of calculus. ...
s market (PBS Frontline The Warning)


Regulating digital currencies

In March 2014 the CFTC acknowledged it was considering the regulation of Bitcoin. The CFTC has since taken the position that Bitcoin is a commodity under the CEA. In October 2019, former CFTC Chairman Heath Tarbert, now Chief Legal Officer of Citadel Securities, declared that ether was also a commodity under the CEA. In 2015, the CFTC ruled that for purposes of trading, cryptocurrencies were legally classified as commodities. However, in view of market volatility and other factors, the CFTC noted several risks associated with trading virtual currencies. In 2017, the CFTC cited the US SEC's warning against digital token sales and initial coin offerings (ICOs) that can "improperly entice investors with promises of high returns". In recent years, the CFTC has expanded its efforts to civilly prosecute fraud and misappropriation in the digital asset markets.


Organization

Based in Washington, D.C., the CFTC maintains regional offices in Chicago, New York and Kansas City, Missouri. The Commission consists of five
Commissioners A commissioner (commonly abbreviated as Comm'r) is, in principle, a member of a commission or an individual who has been given a commission (official charge or authority to do something). In practice, the title of commissioner has evolved to in ...
appointed by the President of the United States to serve staggered five-year terms. The President, with the consent of the
United States Senate The United States Senate is the upper chamber of the United States Congress, with the House of Representatives being the lower chamber. Together they compose the national bicameral legislature of the United States. The composition and po ...
, designates one of the commissioners to serve as chairman. No more than three commissioners at any one time may be from the same political party.


Current commissioners


Major operating units


Division of Enforcement

The Division of Enforcement (DOE) investigates and prosecutes alleged violations of the Commodity Exchange Act and CFTC regulations. Violations may involve commodity futures or option trading on domestic commodity exchanges, or the improper marketing of commodity investments. The Division may, at the direction of the Commission, file complaints before the agency's administrative law judges or in the U.S. District Courts. Alleged criminal violations of the Commodity Exchange Act or violations of other Federal laws which involve commodity futures trading may be referred to the Justice Department for prosecution. The Division also provides expert help and technical assistance with case development and trials to U.S. Attorneys' Offices, other Federal and state regulators, and international authorities.


Division of Market Oversight

The Division of Market Oversight (DMO) has regulatory responsibility for initial recognition and continuing oversight of trade execution facilities, including new registered futures exchanges, swap execution facilities, and swap data repositories. The regulatory functions of the Division include, among other things, rule enforcement reviews, reviews of new products and product- and market-related rule amendments, and associated product and market-related studies. The Division was previously responsible for market and trade practice surveillance.


Market Participants Division

Formerly known as the Division of Swap Dealer and Intermediary Oversight, the Market Participants Division (MPD) primarily oversees derivatives market intermediaries, including commodity pool operators, commodity trading advisors, futures commission merchants, introducing brokers, major swap participants, retail foreign exchange dealers, and swap dealers, as well as designated self-regulatory organizations. MPD conducts the registration, compliance, and business conduct standards of intermediaries, swap dealers and major swap participants. The division also oversees the agency's customer education initiatives.


Division of Clearing and Risk

The Division of Clearing and Risk (DCR) oversees derivatives clearing organizations (DCOs) and other market participants in the clearing process. These include futures commission merchants, swap dealers, major swap participants, and large traders. DCR monitors the clearing of futures, options on futures, and swaps by DCOs, assesses DCO compliance with Commission regulations, and conducts risk assessment and surveillance. DCR also makes recommendations on DCO applications and eligibility, rule submissions, and which types of swaps should be cleared. As of 2019, Clark Hutchison serves as Director of the Division of Clearing and Risk.


List of past commissioners

* Dan M. Berkovitz (term of service 09/07/18 – 10/15/21) * Brian D. Quintenz (term of service 08/15/17 – 08/31/21) * Heath Tarbert (Chairman 07/15/2019 – 01/21/2021) (term of Service 07/15/2019 – 03/05/2021) *
J. Christopher Giancarlo J. Christopher Giancarlo (born May 12, 1959) is an American attorney and former business executive who served as 13th chairman of the United States Commodity Futures Trading Commission (CFTC). Giancarlo was sworn in as a CFTC commissioner on Jun ...
(Acting Chairman 01/20/17 – 08/03/17) (Chairman 08/03/17 – 04/13/19) (term of Service 06/06/14 – 06/05/19) *
Sharon Y. Bowen Sharon ( he, שָׁרוֹן ''Šārôn'' "plain") is a given name as well as an Israeli surname. In English-speaking areas, Sharon is now predominantly a feminine given name. However, historically it was also used as a masculine given name. In I ...
(term of Service 06/09/14 – 09/29/17) * Timothy Massad (term of Service 6/5/14 – 02/17/17) *
Mark P. Wetjen Mark P. Wetjen is an American lawyer. In 2011, he was nominated by Barack Obama to serve a five-year term as a Commissioner of the Commodity Futures Trading Commission (CFTC). He also served for five months as acting chairman of the CFTC upon ...
(term of Service 10/25/11 – 08/28/15) *
Scott D. O'Malia Scott may refer to: Places Canada * Scott, Quebec, municipality in the Nouvelle-Beauce regional municipality in Quebec * Scott, Saskatchewan, a town in the Rural Municipality of Tramping Lake No. 380 * Rural Municipality of Scott No. 98, Sask ...
(term of Service 10/19/09 – 08/08/14) *
Bart Chilton Bartholomew Hamilton Chilton (May 1, 1960 – April 27, 2019) was an American civil servant. He was Commissioner at the Commodity Futures Trading Commission (CFTC) from 2007 to 2014. In April 2014, he joined DLA Piper as a Senior Policy Adviso ...
(term of Service 08/08/07 – 03/21/14) *
Gary Gensler Gary Gensler (born October 18, 1957) is an American government official and former investment banker serving as the chair of the U.S. Securities and Exchange Commission. Gensler previously led the Biden–Harris transition's Federal Reserve, B ...
(Chairman 05/26/09 – 01/3/14) (term of Service 05/26/09 – 01/3/14) *
Jill E. Sommers Jill E. Sommers was sworn in as a commissioner of the Commodity Futures Trading Commission on August 8, 2007 to a term that expired April 13, 2009. She was nominated on July 20, 2009 by President Barack Obama to serve a five-year second term., an ...
(term of Service 08/08/07 – 07/08/13) *
Michael V. Dunn Michael may refer to: People * Michael (given name), a given name * Michael (surname), including a list of people with the surname Michael Given name "Michael" * Michael (archangel), ''first'' of God's archangels in the Jewish, Christian and ...
(Acting Chairman 1/20/09 – 5/25/09) (term of Service 11/21/04 – 10/24/11) *
Walter L. Lukken Walter may refer to: People * Walter (name), both a surname and a given name * Little Walter, American blues harmonica player Marion Walter Jacobs (1930–1968) * Gunther (wrestler), Austrian professional wrestler and trainer Walter Hahn (born 19 ...
(Acting Chairman 6/27/07- 01/20/09) (term of Service 08/07/02 – 07/10/09) * Reuben Jeffery, III (chairman 07/11/05 – 6/27/07) (term of Service 07/11/05 – 06/27/07) * Frederick W. Hatfield (term of Service 12/06/04 – 12/31/06) *
Sharon Brown-Hruska Sharon Brown-Hruska is the former Acting Chairman and Commissioner of the Commodity Futures Trading Commission (CFTC). She was designated as the Acting Chairman of the CFTC by President George W. Bush in 2004 and served in the role until 2005. She ...
(Acting Chairman 08/24/04 – 07/10/05) (term of Service 08/07/02 – 07/28/06) *
James E. Newsome The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options. The Commodity Exchange Act ...
(Acting Chairman 01/20/01 – 12/27/01) (chairman 12/27/01 – 07/23/04) (term of Service 08/10/98 – 07/23/04) *
Thomas J. Erickson Thomas may refer to: People * List of people with given name Thomas * Thomas (name) * Thomas (surname) * Saint Thomas (disambiguation) * Thomas Aquinas (1225–1274) Italian Dominican friar, philosopher, and Doctor of the Church * Thomas the Ap ...
(term of Service 06/21/99 – 12/01/02) *
Barbara P. Holum Barbara may refer to: People * Barbara (given name) * Barbara (painter) (1915–2002), pseudonym of Olga Biglieri, Italian futurist painter * Barbara (singer) (1930–1997), French singer * Barbara Popović (born 2000), also known mononymously ...
(Acting Chairwoman 12/22/93 – 10/07/94) (term of Service 11/28/93 – 12/09/03) *
David D. Spears David (; , "beloved one") (traditional spelling), , ''Dāwūd''; grc-koi, Δαυΐδ, Dauíd; la, Davidus, David; gez , ዳዊት, ''Dawit''; xcl, Դաւիթ, ''Dawitʿ''; cu, Давíдъ, ''Davidŭ''; possibly meaning "beloved one". w ...
(Acting Chairman 06/02/99 – 08/10/99) (term of Service 09/03/96 – 12/20/01) *
Brooksley E. Born Brooksley Elizabeth BornCalifornia Births, 1905 - 1995Brooksley Elizabeth Born/ref> (born August 27, 1940) is an American attorney and former public official who, from August 26, 1996, to June 1, 1999, was chair of the Commodity Futures Trading ...
(Chairwoman 08/26/96 – 06/01/99) *
John E. Tull, Jr. John is a common English name and surname: * John (given name) * John (surname) John may also refer to: New Testament Works * Gospel of John, a title often shortened to John * First Epistle of John, often shortened to 1 John * Second E ...
(Acting Chairman 01/27/96 – 08/25/96) (term of Service 11/24/93 – 02/27/99) *
Joseph B. Dial Joseph is a common male given name, derived from the Hebrew Yosef (יוֹסֵף). "Joseph" is used, along with "Josef", mostly in English, French and partially German languages. This spelling is also found as a variant in the languages of the mo ...
(term of Service 06/20/91 – 11/13/97) * Mary L. Schapiro (Chairwoman 10/13/94 – 01/26/96) (term of Service 10/13/94 – 01/26/96) * Sheila C. Bair (Acting Chairwoman 08/22/93 – 12/21/93) (term of Service 05/02/91 – 06/16/95) *
William P. Albrecht William is a male given name of Germanic origin.Hanks, Hardcastle and Hodges, ''Oxford Dictionary of First Names'', Oxford University Press, 2nd edition, , p. 276. It became very popular in the English language after the Norman conquest of Eng ...
(Acting Chairman 01/22/93 – 08/20/93) (term of Service 11/22/88 – 08/20/93) * Wendy L. Gramm (term of Service 02/22/88 – 01/22/93) * Fowler C. West (term of Service 10/06/82 – 01/20/93) *
Kalo A. Hineman Kalo or KALO may refer to: *a member of certain subgroups of the Romani people of Western and Northern Europe (plural ''kale''): **Calé ** Kale (Welsh Roma) **Finnish Kale *the dialects of the Romani language, spoken by these groups ** Caló **We ...
(Acting Chairman 07/27/87 – 02/22/83) (term of Service 01/12/82 – 06/19/91) *
Robert R. Davis Robert R. Davis (born April 3, 1949) is an American economist and trade association executive. A longtime executive at the American Bankers Association and its predecessor, America's Community Bankers, Davis served for five and a half years as a m ...
(terms of Service 10/03/84 – 04/30/90) *
William Rainer William is a male given name of Germanic origin.Hanks, Hardcastle and Hodges, ''Oxford Dictionary of First Names'', Oxford University Press, 2nd edition, , p. 276. It became very popular in the English language after the Norman conquest of Eng ...
(term of Service 08/11/99 – 01/19/01) *
William E. Seale William is a male given name of Germanic origin.Hanks, Hardcastle and Hodges, ''Oxford Dictionary of First Names'', Oxford University Press, 2nd edition, , p. 276. It became very popular in the English language after the Norman conquest of Eng ...
(term of Service 11/16/83 – 09/01/88) * Susan M. Philips (Chairwoman 11/17/83 – 07/24/87) (Acting Chairwoman 05/28/83 – 11/16/83) (term of Service 11/16/81 – 07/24/87) *
Philip McBride Johnson Philip, also Phillip, is a male given name, derived from the Greek (''Philippos'', lit. "horse-loving" or "fond of horses"), from a compound of (''philos'', "dear", "loved", "loving") and (''hippos'', "horse"). Prominent Philips who popularize ...
(Chairman 6/8/81 – 5/01/83) (term of Service 06/06/81 – 05/01/83) * James M. Stone (Chairman 05/04/79 – 06/08/81) (term of Service 05/04/79 – 01/31/83) *
Reed P. Dunn Reed or Reeds may refer to: Science, technology, biology, and medicine * Reed bird (disambiguation) * Reed pen, writing implement in use since ancient times * Reed (plant), one of several tall, grass-like wetland plants of the order Poales * R ...
(term of Service 04/15/75 – 11/13/81) *
David G. Gartner David (; , "beloved one") (traditional spelling), , ''Dāwūd''; grc-koi, Δαυΐδ, Dauíd; la, Davidus, David; gez , ዳዊት, ''Dawit''; xcl, Դաւիթ, ''Dawitʿ''; cu, Давíдъ, ''Davidŭ''; possibly meaning "beloved one". w ...
(term of Service 05/19/78 – 10/05/82) *
Robert L. Martin The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' ( non, Hróðr) "fame, glory, honou ...
(term of Service 06/20/75 – 08/31/81) * Gary L. Seevers (Acting Chairman 12/06/78 – 05/03/79) (term of Service 04/15/75 – 06/01/79) * Bill Bagley (term of Service 04/15/75 – 11/15/78) *
John V. Rainbolt John is a common English name and surname: * John (given name) * John (surname) John may also refer to: New Testament Works * Gospel of John, a title often shortened to John * First Epistle of John, often shortened to 1 John * Second E ...
(term of Service 04/15/75 – 05/18/78)


Funding/budget

Unlike the other four main financial regulators, the CFTC does not have self-funding. A transaction fee has been "requested" for several years but Congress has not taken any legislative action. During the government shut down in October 2013, SEC and Federal Reserve stayed open, but "futures and most swaps markets were left with essentially no cop on the beat". In 2007, the CFTC's budget was and it had 437 full-time equivalent employees (FTEs). After 2008, funding increased by 80% to and 687 FTEs for fiscal year (FY) 2012, but was cut to and 682 FTEs for FY 2013. In 2013 CFTC's performance was severely affected by limited resources and had to delay cases. The current, FY 2014 funding of did not keep up with CFTC's increasing swaps market oversight and regulation, equivalent to tens of trillions of dollars in formerly dark market trading, according to outgoing Commissioner Bart Chilton in his last speech. The Obama administration's latest budget proposal for FY 2015 requested , which is less than the request for the previous year, and would fund "100 less employees than we need" per Chilton, who called the budget "woefully insufficient" for CFTC's more than 40-fold increased purview. In February 2014, Commissioner Scott D. O'Malia dissented from the FY 2014 spending plan saying that it did not allocate enough funding to new technology investments, but allocated too much to swap dealer oversight, duplicating the work of the self-regulatory National Futures Association. In March he dissented from the FY 2015 budget request stating CFTC "makes an unrealistic request for new staff and funding in this budget request without a firm understanding of its mission priorities, specific goals, and corresponding personnel and technology needs." In December 2019, the CFTC secured funding of for FY2020, an increase of nearly 6 percent from the appropriated for FY2019. Chairman Tarbert commented that this "fully matched" the CFTC's request, the first time that had happened in "nearly a decade."


Primary exchanges monitored

* Chicago Board Options Exchange * Chicago Board of Trade *
Chicago Mercantile Exchange The Chicago Mercantile Exchange (CME) (often called "the Chicago Merc", or "the Merc") is a global derivatives marketplace based in Chicago and located at 20 S. Wacker Drive. The CME was founded in 1898 as the Chicago Butter and Egg Board, an ...
* COMEX * Kansas City Board of Trade *
Minneapolis Grain Exchange The Minneapolis Grain Exchange (MGEX) is a commodities and futures exchange of grain products. It was formed in 1881 in Minneapolis, Minnesota, United States as a regional cash marketplace to promote fair trade and to prevent trade abuses in ...
* North American Derivatives Exchange * New York Mercantile Exchange * New York Board of Trade * OneChicago


See also

*
Commodity In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a co ...
* CFTC report *
Federal Trade Commission The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) antitrust law and the promotion of consumer protection. The FTC shares jurisdiction o ...
* Forex scam *
Hunter Wise Commodities Hunter Wise Commodities, LLC was a privately held Spring Valley, Nevada-based wholesale precious metals trader and financier offering back office accounting services to its clients. The company also had offices in Irvine, California. Formed in 200 ...
* Managed futures account * Futures Industry Association, trade organization *
Securities market participants (United States) Securities market participants in the United States include corporations and governments issuing securities, persons and corporations buying and selling a security, the broker-dealers and exchanges which facilitate such trading, banks which safe ...
* Title 17 of the Code of Federal Regulations * CFTC Whistleblower Program * 2000s commodities boom * 2020s commodities boom *
Digital Commodities Consumer Protection Act The Digital Commodities Consumer Protection Act (DCCPA) is a proposed United States federal law to regulate the trading of cryptocurrencies and related digital assets. It would place the regulation of crypto assets under the authority of the Commo ...


Notes


References


Further reading


"The Warning"
PBS(
WGBH WGBH may refer to: * WGBH Educational Foundation, based in Boston, Massachusetts, United States ** WGBH (FM), a public radio station at Boston, Massachusetts on 89.7 MHz owned by the WGBH Educational Foundation ** WGBH-TV WGBH-TV (channel 2), ...
)
Frontline Front line refers to the forward-most forces on a battlefield. Front line, front lines or variants may also refer to: Books and publications * ''Front Lines'' (novel), young adult historical novel by American author Michael Grant * ''Frontlines ...
October 20, 2009. Documentary about 2008 financial collapse with Brooksley Born speaking about her failed campaign to regulate the derivatives market. https://randosity.wordpress.com/2010/11/26/film-review-the-warning-pbs-frontline-documentary/ See also
Background material

The Commodity Futures Trading Commission: Background and Current Issues
published by the
Congressional Research Service The Congressional Research Service (CRS) is a public policy research institute of the United States Congress. Operating within the Library of Congress, it works primarily and directly for members of Congress and their committees and staff on a ...
June 24, 2013, 379 KB, 23pp
CFTC Official Tied to Wall Street Profits From Merger Fight
(January 2015), ''
Bloomberg Businessweek ''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City ...
''


External links

*
Commodity Futures Trading Commission
in the Federal Register
Commodity Futures Trading Commission
on USAspending.gov {{Authority control Financial services companies established in 1975 Financial regulatory authorities of the United States Government agencies established in 1975