The interim president of the United States Public Futures Commission (CFTC), Caroline Pham, said Tuesday that the regulatory agency has reorganized its application division to “re -behere” in fraud and “stop regulation by the application “
Under former President Rostin Behnam, the CFTC control division had a variety of working groups, including one focused on internal trade, another focused on cybersecurity and emerging technologies and a third aimed at combating environmental fraud. The new reorganization reduces the number of working groups to only two.
The recently created complex fraud work group has the task of handling the application, from preliminary consultations to litigation, complex fraud and manipulation in all assets of assets. Paul Hayeck, deputy director of the compliance division, will be the interim boss of the complex fraud task force. The Task Group of Retail Frank and Control will handle retail fraud and general application, and will be directed by Charles Marvine, also deputy director of the Agency Control Division.
“This simplified structure will stop regulation by application and is more efficient,” Pham said in a press release. “These very necessary changes will maximize the resources of the CFTC to bring more actions to chase the scammers and other bad actors, and not punish good citizens.”
According to the announcement of the CFTC, the new structure “will more efficiently use the resources of the CFTC to prevent fraud, manipulation and abuse and guarantee market integrity”, as well as “provide greater governance and supervision of the Application matters to prevent exaltiation and improve consistency, justice and justice.
The rejection of the CFTC of the so -called regulation for the execution strategy pursued under the Biden administration echoes the current face in the United States Stock Exchange and Securities Commission, the CFTC sister regulatory agency. According to the current interim president Mark Uyeda, the SEC has established a cryptographic working group and has rejected the agency’s prior regulation strategy by the execution under former President Gary Gensler.
Read more: the sec Hester Peirce commissioner presents 10 priorities for the new cryptographic working group
