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The CFTC will formally evaluate companies' or individuals' cooperation and self-reporting before levying fines, the latest signal the derivatives regulator is shifting its approach to enforcement https://t.co/cILKFfmjq4
The Commodity Futures Trading Commission is providing more detail of the benefits it offers to companies that voluntarily report their misconduct to the regulator https://t.co/EnYGBxBcUF via @_MengqiSun
.@CFTC Releases Enforcement Advisory on Self-Reporting, Cooperation, and Remediation: https://t.co/EJTvqhcD6u
The Commodity Futures Trading Commission (CFTC) has announced a new enforcement advisory that outlines the advantages for companies and individuals who voluntarily report misconduct. This advisory reflects a shift in the CFTC's approach to enforcement, emphasizing the evaluation of cooperation and self-reporting before imposing fines. The CFTC aims to encourage transparency and accountability within the industry, potentially leading to increased investigations and rewards for whistleblowers. Additionally, the Department of Labor (DOL) has introduced a new self-correction component under its Voluntary Fiduciary Correction Program, which aims to assist fiduciaries in correcting violations of the Employee Retirement Income Security Act (ERISA).
