Commission at a Glance: CFTC Programs

The Commission is charged with a significant responsibility to ensure the fair, open, and efficient functioning of futures markets. These regulatory responsibilities, expressed and measured through three strategic goals, are administered by the CFTC programs: Market Oversight; Clearing and Intermediary Oversight; and Enforcement. The fulfillment of the Commission’s mission and the achievement of the strategic goals are tied to a foundation of sound management and organizational excellence expressed in the agency’s fourth strategic goal.

• Market Oversight
  
  The Market Oversight program fosters markets that accurately reflect the forces of supply and demand for the underlying commodities and are free of disruptive activity. In order to achieve this goal, program staff, oversee trade execution facilities and perform market surveillance, market compliance, and market and product review functions.
• Clearing and Intermediary Oversight
  
  The Clearing and Intermediary Oversight program oversees the compliance activities of derivatives clearing organizations (DCOs), intermediaries, and the futures industry self-regulatory organizations (SROs), which include the U.S. commodity exchanges and National Futures Association (NFA). Program staff develop regulations concerning registration, fitness, financial adequacy, sales practices, protection of customer funds, clearance and settlement activities, cross-border transactions, systemic risk, and anti-money laundering programs, in addition to, policies for coordination with foreign market authorities and emergency procedures to address market-related events.
• Enforcement
  
  The Enforcement program investigates and prosecutes alleged violations of the CEA and Commission regulations. Violations may involve commodity futures or option trading on U.S. futures exchanges, or the improper marketing and sales of commodity futures products to the general public.
• International Affairs
  
  The Office of International Affairs (OIA) coordinates the Commission’s non-enforcement related international activities; represents the Commission in international organizations, such as the International Organization of Securities Commissions (IOSCO); coordinates Commission policy as it relates to Treasury global initiatives; and provides technical assistance to foreign market authorities.
• Chief Economist
  
  The Chief Economist provides economic support and advice to the Commission, conducts research on policy issues facing the agency, and provides education and training for Commission staff.
• General Counsel
  
  The General Counsel serves the Commission as its legal advisor representing the Commission in appellate litigation and certain trial-level cases, including bankruptcy proceedings involving futures industry professionals, and advising the Commission on the application and interpretation of the CEA and other administrative statutes.
• Proceedings
  
  The Office of Proceedings manages the agency’s reparations program, which provides an inexpensive, expeditious, fair, and impartial forum to handle customer complaints and resolve disputes between futures customers and commodity futures trading professionals. The Office of Proceedings also provides a forum for the adjudication of administrative enforcement cases brought by the Commission against persons or firms responsible for violating the CEA or Commission regulations.
• Agency Direction
  
  The Office of the Chairman and the Commissioners provide executive direction and leadership to the Commission, particularly on policies that implement and enforce the CEA and amendments to that Act, including the Commodity Futures Modernization Act of 2000 (CFMA). The Offices of the Chairman include: Public Affairs, Legislative Affairs, the Secretariat, the Inspector General, and Equal Employment Opportunity.
• Administrative Management and Support
  
  The Executive Director serves as the Chief Operating Officer (COO) directing the effective and efficient allocation and use of resources, and developing the management and administrative policy and programs of the Commission. The Offices of the Executive Director include: Human Resources, Financial Management, Information and Technology Services, Management Operations, and the Library.

< Previous Page | Table Of Contents | Next Page >