Abstract

Abstract The Commodity Futures Trading Commission (CFTC) is an independent agency with exclusive jurisdiction over futures trading in all commodities. The Commodity Exchange Act of 1936 (CEA) set forth the first federal regulatory framework for futures trading in agricultural commodities. In 1974, Congress passed the Commodity Futures Trading Commission Act, overhauling the CEA and establishing the CFTC. When President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law, the CFTC was a natural regulatory authority for the implementation of Dodd-Frank because of its historical role in regulating a remote corner of the derivatives market place (i.e., futures). This chapter discusses the role of the CFTC, its structure, disciplinary action, and its regulatory background.

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