The Market Participants Division (MPD) was formed in October 2020 as part of an agency reorganization, merging the Division of Swap Dealer and Intermediary Oversight with the Office of Customer Education and Outreach.
The mission of MPD is to conduct smart, effective, and practical oversight of CFTC registrants, as well as educate the public about the derivatives markets the CFTC regulates. MPD oversees registrants that conduct dealing, trading, investment, and advisory businesses in the derivatives markets, and works closely with self-regulatory organizations in doing so. Above all, MPD serves the American public by regulating the registrants in which clients, customers, counterparties, and investors place their trust and confidence.
About the Division
MPD primarily oversees derivatives market intermediaries, including commodity pool operators, commodity trading advisors, futures commission merchants, introducing brokers, major swap participants, retail foreign exchange dealers, and swap dealers, as well as designated self-regulatory organizations. MPD supports the CFTC’s mission through world-class examination, reporting, guidance, and rulemaking programs. The division also delivers thoughtful, timely, and accessible educational materials about the markets to a worldwide audience through the CFTC’s world-class education program.
MPD is organized into five branches: Chief Counsel Branch, Examinations Branch, Managed Funds & Financial Requirements Branch, Registration & Compliance Branch, and the Office of Customer Education and Outreach (OCEO). OCEO was established following passage of the Dodd-Frank Act to help customers protect themselves from fraud or violations of the Commodity Exchange Act through the research and development of effective financial education materials and initiatives. The CFTC’s customer education resources can be found at cftc.gov/LearnAndProtect.
Division in Action
- MPD achieves its mission by:
- Examining intermediaries and designated self-regulatory organizations;
- Maintaining appropriate standards for registration of intermediaries;
- Providing expertise to the Commission in its promulgation of rules; and
- Issuing concise and timely interpretations and guidance for intermediaries.
Registrants can notify MPD staff of disruptions or other material events which do not require formal notification to the Commission (e.g., Regulation 1.12 notices) via email at [email protected]. Cybersecurity notices should be sent to [email protected]. Please see MPD Cyper Alerts page for additional resources.
Joshua B. Sterling, Director
Frank Fisanich, Chief Counsel
Joseph Sanguedolce, Deputy Director, Examinations Branch
Thomas Smith, Deputy Director, Managed Funds & Financial Requirements Branch
Amanda Olear, Deputy Director, Registration & Compliance Branch
Vacant, Deputy Director, Office of Customer Education and Outreach