Appendix 4 – FY 2013 Planned Objectives by Strategic Goal (continued)
Goal Three: Protect the public and market participants through a robust enforcement program.
An increasing segment of the population has money invested in the derivatives markets, either directly or indirectly through pension funds or ownership of shares in publicly held companies that participate in the markets. Commission staff works to protect market users and the public by promoting compliance with and deterring violations of the CEA and Commission regulations. The range of available enforcement actions (including manipulation, disruptive trading practices and anti-fraud for example) will broaden beginning July 2011 when relevant provisions of the Dodd-Frank Act become effective. By providing a formalized structure and government oversight, the commodity laws carefully balance the desire for open, accessible and competitive markets with the need to protect market users.
This third strategic goal is to ensure that firms and individuals who come to the marketplace to fulfill their business and trading needs are in compliance with laws and regulations. In addition, market users and others must be protected from possible wrongdoing that may affect or tend to affect the integrity of the markets. The derivatives markets provide a great benefit to the U.S. economy; preserving the integrity of the markets ensures their continued vibrancy and promotes public confidence. Continuing IT investment in the eLaw program will support all Goal Three objectives by improving staff productivity, providing staff with a level IT playing field with those it investigates and effective tools to collaborate internally with oversight and clearing staff as well as with other regulators, and facilitating the use of information to identify high impact enforcement actions.
Summary of Goal Three Performance Indicators
| Performance Measure 3.1.1.1: Percentage of enforcement investigations concluded within one year of opening. | Plan | Actual | |
|---|---|---|---|
| FY 2011 | 65% | 81% | |
| FY 2012 | 70% | ||
| FY 2013 | 75% | ||
| Performance Measure 3.1.1.2: The CFTC will bring claims in due recognition of the broadened enforcement mandate provided by the Dodd Frank Act, and will seek proportionate remedies, including civil monetary penalties, undertakings and restitution, that have the highest impact on and greatest deterrent effect against potential future violations. | Plan | Actual | |
| FY 2011 | N/A | N/A1 | |
| FY 2012 | N/A | ||
| FY 2013 | N/A | ||
| Performance Measure 3.2.1.1: Percentage of CFTC case filings that include referrals to domestic civil and criminal cooperative authorities. | Plan | Actual | |
|---|---|---|---|
| FY 2011 | 60% | 62% | |
| FY 2012 | 65% | ||
| FY 2013 | 70% | ||
| 1 N/A = Not applicable. Performance data not available until applicable regulations are effective. (back to text) | |||