Washington, DC – Commodity Futures Trading Commission (CFTC) Commissioner Caroline D. Pham today released the following statement on the CFTC’s recent settlement order regarding The Bank of New York Mellon:

“I am pleased that the CFTC has provided recognition of self-reporting and cooperation credit in this settlement order with The Bank of New York Mellon. I hope the CFTC will adopt a clear standard that is applied consistently as I have previously recommended.[1] Implementing my proposals to improve the CFTC’s internal governance and procedures will promote government accountability and provide further transparency and regulatory clarity.”