SPEECHES & TESTIMONY

Statement of CFTC Chairman J. Christopher Giancarlo on Agency Operations in the Event of a Lapse of Appropriations 

December 21, 2018

CFTC Chairman J. Christopher Giancarlo issued the following statement on agency operations in the event of a lapse of appropriations:

“In the event of a lapse of appropriations, the CFTC will be required to cease operations not excepted by the Anti-Deficiency Act. But regardless of any shutdown, the CFTC will ensure its market-critical functions continue to be carried out.  Among other things, during any shutdown a small team of CFTC employees will continue to monitor futures and swaps markets, ensure essential enforcement activities are carried out, and evaluate market activity across futures and swaps to identify any potential impact on the clearing system. Staff performing these excepted functions will be in communication with key market participants, which will continue their own market and risk surveillance activities.”