On May 8, 2019, the Division of Enforcement (“Division”) of the Commodity Futures Trading Commission (”CFTC”) announced that it had published its Enforcement Manual (“Manual”). This is the first issuance of a public Manual. Prior to this publication, the Manual was only available internally as a general reference to the Division’s Staff during their investigation and litigation of potential violations of the commodities laws. The Manual includes a background overview of the CFTC and the Division, and sets forth general policies and procedures that inform the Division’s work to detect, investigate, and litigate violations of the Commodity Exchange Act (“CEA”) and the CFTC regulations. The Manual can be accessed on the Division’s webpage.
Among other topics, the Manual covers how the Division:
- Investigates and litigates cases
- Evaluates applicable privileges and issues of confidentiality
- Notifies persons of proposed enforcement proceedings (known as the Wells process)
- Works in parallel with other civil and criminal agencies
- Handles its self-reporting and cooperation program
The Division expects to revise and update the Manual periodically.