For Release: October 23, 2002
CFTC’S DIVISION OF ENFORCEMENT CREATES
OFFICE OF COOPERATIVE ENFORCEMENT
Daniel Nathan Heads New Office Whose Mission is to Strengthen Ties to
Other Regulators and Enhance Federal and State Commodities Prosecutions
WASHINGTON, D.C. – The Commodity Futures Trading Commission’s (CFTC) Division of Enforcement today announced that it has created an Office of Cooperative Enforcement and named Daniel Nathan as the head of that office. The Division has charged the new Office with the task of reaching out to financial regulators on the federal and state level, to ensure that they are coordinating investigations and prosecutions of commodities violators, and to ensure that the government addresses misconduct whenever appropriate.
Nathan and the Office’s staff will represent the Division at all intergovernmental task forces, and present training to the states in commodities law and methods of investigating commodity brokerage fraud, foreign currency and precious metals abuses, and commodity pool fraud, among other things. The Office also will oversee the Division’s continuing aggressive efforts in attacking the epidemic of foreign currency (or forex) fraud; those efforts have already led to the Commission’s filing of over twenty enforcement actions in the last year and a half against firms engaged in defrauding the public through sales of purported interests in foreign currency.
In announcing the new Office, Gregory Mocek, Director of the Division of Enforcement, said:
By creating the Office of Cooperative Enforcement, we are telling all other regulators that the Division of Enforcement is committed to doing everything we can to win the fight against commodities fraud. We will provide any requested assistance to help our fellow regulators achieve the ultimate result – appropriate penalties and jail sentences for those who defraud members of the public through commodities schemes. With his vast experience in financial enforcement, creative ideas and wealth of law enforcement contacts, Dan Nathan is the perfect choice to head this office and coordinate our cooperative anti-fraud efforts.
Nathan joined the Commission in 1997 as the Division’s Deputy Director. Prior to that, he was an Assistant Director of the Securities and Exchange Commission’s Division of Enforcement, where he worked for twelve years following two years in private litigation practice.
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