CFTC plans to reduce fines, sending new signals to relax regulation
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Golden Finance reported that the U.S. Commodity Futures Trading Commission (CFTC) will formally evaluate the degree of cooperation or self-report method of companies or individuals accused of misconduct before imposing fines, which is the latest signal that the derivatives regulator has changed its enforcement methods. CFTC Acting Chairman Caroline Pham said the new advisory is designed to create “meaningful incentives” for companies to proactively ask questions and resolve cases faster with reasonable penalties. Pham said the measure also shows that the agency complies with an executive order from the Trump administration to revoke regulations that the White House considers too “cumbersome”. (Jin Shi)