Goal Four
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Goal Four—Enhance integrity of U.S. markets by engaging in cross-border cooperation, promoting strong international regulatory standards, and encouraging ongoing convergence of laws and regulation worldwide.
Goal Four Performance Summary
Exceeded |
Met |
Not Met |
100% |
0% |
0% |
Effective regulation requires international coordination and necessitates that the Commission cooperate with foreign market authorities to supervise U.S. markets and protect U.S. customers. Additionally, the Commission works closely with relevant international organizations to promote high-quality derivatives regulation worldwide and convergence where possible. The CFTC also provides technical assistance to emerging and recently-emerged markets to help these jurisdictions in establishing and implementing laws and regulations that foster global market integrity. Accomplishments include:
- Coordinating an engagement with the European Commission and Parliament, encouraging harmonization of European regulatory development with Dodd-Frank policies, and organizing a joint CFTC-SEC roundtable on the cross-border application of the Dodd-Frank Act.
- Technical level working groups on OTC derivatives with the European Commission, European Securities Markets Authority (ESMA), and regulatory authorities in Japan, Singapore, and Hong Kong.
- Coordinated a review of cross-border arrangements that will be needed under the Dodd-Frank Act and developed draft Memorandum of Understanding (MOU) on the supervision of dually regulated cross-border clearinghouses.
- Handled over 530 international requests and referrals, an approximate 20 percent increase over prior fiscal year.
- Held the annual international regulatory conference at Boca Raton, Florida and the annual symposium for foreign regulators in Chicago.
Goal Four performance measure results are depicted in the following table:
Goal Four Performance Results
|
# of Measures1 |
Exceeded |
Met |
Not Met |
Goal Four |
3 |
3 |
0 |
0 |
% of Total |
|
100% |
0% |
0% |
|
100% |
|
See Goal Four Performance Measures, Analysis and Review for detailed performance analysis and review narrative for each associated measure.
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