Adopted new regulations, pursuant to new authority granted by the Farm Bill, to extend the Commission’s oversight to previously unregulated SPDCs, in particular energy contracts, and in addition, conducted three open hearings on speculative trading in the energy markets to assess the feasibility of adopting energy contract position limits.
Enhanced market transparency of the publicly-available COT1 reports by disaggregating Commercial and Noncommercial positions into four categories and by including position data of foreign contracts linked to the settlement price of domestic contracts and contracts determined to perform a significant price discovery function.
The CFTC and SEC issued a joint harmonization report2 to bring greater consistency, where appropriate, to the agencies’ regulatory approaches. The report includes 20 recommendations to enhance enforcement powers, strengthen market and intermediary oversight, and facilitate operational coordination.
Filed 50 Enforcement actions and opened 251 investigations of potential violations of the Act and Commission regulations. Obtained $183 million in restitution and disgorgement and $97 million in civil monetary penalties in previously filed or existing cases.
FY 2009 Resources at a Glance
In 2009, Congress invested $146 million in the CFTC to ensure that the Nation’s futures markets operate without disruption. The agency focused these increases on critical technology modernization and hiring and retaining highly-trained staff with mission-critical skills.
Budget Authority 5-Year Span ($ in millions)
FY 2005
FY 2006
FY 2007
FY 2008
FY 2009
$90
$93
$98
$111
$146
Staff (FTE)
5-Year Span
FY 2005
FY 2006
FY 2007
FY 2008
FY 2009
487
490
437
449
498
Budget Authority by Goal
2009
Goal
Percentage
Goal 1: Economic Vitality
31%
Goal 2: Market Protection
23%
Goal 3: Market Integrity
23%
Goal 4: Organizational Excellence
23%
Staff (FTE) by Goal
2009
Goal
Percentage
Goal 1: Economic Vitality
31%
Goal 2: Market Protection
23%
Goal 3: Market Integrity
23%
Goal 4: Organizational Excellence
23%
1 The COT report is an important tool for market participants and the public to track the positions of important groups of market participants.