Page 23 - 期货和衍生品行业监管动态（2023年8月刊）

期货和衍生品行业监管动态

CFTC’s recordkeeping and supervision requirements involving the use of unapproved

communication methods,” said Director of Enforcement Ian McGinley. “The

Commission’s message could not be more clear—recordkeeping and supervision

requirements are fundamental, and registrants that fail to comply with these core

regulatory obligations do so at their own peril.”

Each order finds the swap dealer and/or FCM in question, for a period of years,

failed to stop its employees, including those at senior levels, from communicating both

internally and externally using unapproved communication methods, including

messages sent via personal text or WhatsApp. The firms were required to keep certain

of these written communications because they related to the firms’ businesses as CFTC

registrants. These written communications generally were not maintained and

preserved by the firms, and the firms generally would not have been able to provide

them promptly to the CFTC when requested.

Each order further finds the widespread use of unapproved communication
methods violated the swap dealers’ and/or FCMs’ internal policies and procedures,

which generally prohibited business-related communication taking place via

unapproved methods. Further, some of the same supervisory personnel responsible for

ensuring compliance with the firms’ policies and procedures themselves used non-

approved methods of communication to engage in business-related communications, in

violation of firm policy.

Case Background

The orders find, as a result of each registrant’s failure to ensure that its

employees—including supervisors and senior-level employees—complied with

communications policies and procedures, each registrant failed to maintain hundreds if

not thousands of business-related communications, including communications in

connection with its commodities and swaps businesses, and thus failed diligently to

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