On April 28, the Securities and Exchange Commission announced that Alex Oh resigned her position as Director of the Division of Enforcement. Melissa Hodgman, who had previously served as the Acting Director of the Division of Enforcement prior to Ms. Oh’s appointment, will return to such role.
Division of Enforcement
Alex Oh Named SEC Director of Enforcement
By Susan Light & Elise W. Michael on
Posted in Broker-Dealer
On April 22, the Securities and Exchange Commission announced the appointment of Alex Oh as Director of the Division of Enforcement. Earlier in her career, Oh was an Assistant US Attorney in the Criminal Division of the US Attorney’s Office for the Southern District of New York, where she was a member of the Securities…
SEC Announces New Internal Security-Based Swaps Joint Venture
By Elizabeth Organ & Paul McCurdy on
Posted in Broker-Dealer
On December 18, 2020, the Securities and Exchange Commission announced the creation of a joint venture among multiple SEC divisions and offices to coordinate roles related to the regulation of security-based swaps (SBS) and provide oversight of entities that will be required to register with the SEC (SBS entities).
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CFTC’s Enforcement Division Issues Guidance on Recognition of Self-Reporting, Cooperation and Remediation
By Kevin M. Foley & Gregory A. Uffner on
Posted in CFTC
On October 29, the Commodity Futures Trading Commission announced that the Division of Enforcement (Division) issued new guidance for its staff related to the recognition of a registrant’s self-reporting, cooperation or remediation in CFTC enforcement orders. The Division has not changed its existing process of how the enforcement staff will consider reductions in penalties in…
CFTC Announces Organizational Changes
By Kevin M. Foley & Gregory A. Uffner on
Posted in CFTC, Derivatives
On October 29, the Commodity Futures Trading Commission announced certain reorganizational changes designed to enhance the CFTC’s operational effectiveness. Specifically:
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CFTC Issues Guidance on Compliance Program Evaluations in Connection With Enforcement Matters
By Kevin M. Foley & James M. Brady on
Posted in CFTC
On September 10, the Commodity Futures Trading Commission’s Division of Enforcement (Division) issued guidance outlining factors to consider when evaluating compliance programs as part of enforcement matters.
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CFTC Division of Enforcement Issues Civil Monetary Penalty Guidance
By Kevin M. Foley & Stanley V. Polit on
Posted in CFTC
On May 20, the Commodity Futures Trading Commission’s Division of Enforcement (Division) issued new guidance (Guidance) outlining factors the Division will consider in recommending civil monetary penalties (CMPs) imposed by the CFTC in enforcement actions. This is the first publicly issued Division CMP guidance since the CFTC published its penalty guidelines in 1994. The Guidance is designed to provide market participants with greater transparency as to Division staff’s decision-making criteria regarding CMPs.
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CFTC Division of Enforcement Issues Public Enforcement Manual
Posted in CFTC
On May 8, the Division of Enforcement (the “Division”) of the Commodity Futures Trading Commission issued its first public enforcement manual (the “Enforcement Manual”). The Enforcement Manual explains the roles of the CFTC and Division generally, and outlines certain general policies and procedures that guide the Division in its investigation and prosecution of violations of the Commodity Exchange Act (CEA) and CFTC Regulations.
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