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New CFTC Guidance Offers a Roadmap for Reduced Fines

New CFTC Guidance Offers a Roadmap for Reduced Fines

Author: Paul A. LiebermanDate: November 12, 2020

The Commodity Futures Trading Commission (CFTC or Commission) recently issued new Guidance that makes it clear that companies will be rewarded for good behavior. The CFTC’s Division of Enforcement Guidance specifically explains how companies that self-report violations, cooperate with investigators, and remediate their issues can qualify for a substantial reduction of penalties in subsequent enforcement proceedings. 

CFTC Release No. 8235-20 announced that Guidance on factors used in evaluating corporate compliance programs would be published in the Agency’s Enforcement Manual.  A prior Release, 8165-20, memorialized existing CFTC enforcement practice in recommending civil monetary penalties (CMPs).  These Releases outline the CFTC’s evaluative approaches to penalty recommendations and include:

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