Page 33 - 期货和衍生品行业监管动态（2025年2月刊）

期货和衍生品行业监管动态

and promoting market integrity. Today’s advisory gets back to basics by returning to

decades of prior CFTC policy on self-reporting and is aligned with best practices for

assessing penalties followed by the Department of Justice and other U.S. financial

regulators. This ‘no-surprises’ approach is straightforward and demonstrates the

CFTC’s renewed commitment to fair treatment under the law and principles of

regulatory consistency, transparency, and clarity.”

“Our goal with this advisory is to obtain accountability while encouraging

efficiency and conserving government resources by giving entities a clear reason to

self-report and cooperate,” said Division of Enforcement Director Brian Young. “This

advisory informs both staff and the public precisely how to do that. Based on my

experience in criminal practice, I believe policies that encourage transparency and

cooperation yield efficiencies and better justice outcomes.”

Specifically, the advisory details the framework the Division will use to assess

self-reporting, cooperation, and remediation in investigations and enforcement

actions:

 Self-Reporting: The Division will evaluate self-reporting on a three-tier

scale: No Self-Report; Satisfactory Self-Report; and Exemplary Self-Report.
To receive full credit, disclosures must be voluntary, made to the

Commission, made in a timely manner, and complete. Reports can be made

to either the Division of Enforcement or to one of the Commission’s other

Divisions with oversight responsibility. The Division of Enforcement will

provide a safe harbor for good faith self-reporting if any inaccurate

information in the self-report or voluntary disclosure is supplemented and

corrected promptly after discovery of the inaccurate information.

 Cooperation and Remediation: The Division will evaluate cooperation on

a four-tier scale: No Cooperation; Satisfactory Cooperation; Excellent

Cooperation; and Exemplary Cooperation. The Division will evaluate

19