CFTC plans to reduce fines to send new signal of deregulation
Internet reports that the U.S. Commodity Futures Trading Commission (CFTC) will formally assess the degree of cooperation or self-reporting methods of companies or individuals accused of misconduct before imposing fines, the latest signal that the derivatives regulator has changed its enforcement approach. Caroline Pham, acting chairman of the CFTC, said the new advisory opinion aims to create "meaningful incentives" for companies to proactively raise issues and resolve cases faster with reasonable penalties. Pham said the measure also shows the agency is complying with an executive order from the Trump administration to revoke regulations that the White House considers too "onerous." (Jin Shi)
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