• 34ºc, Sunny

The CFTC plans to reduce fines, sending a new signal of deregulation

The US Commodity Futures Trading Commission (CFTC) will formally assess the extent to which companies or individuals accused of wrongdoing cooperate or self-report before imposing fines, in the latest signal that the derivatives regulator is changing the way it enforces. Caroline Pham, acting chairperson of the CFTC, said the new advisory is designed to create a "meaningful incentive" for companies to take the initiative to raise issues and resolve cases more quickly with reasonable penalties. Pham said the measure also shows the agency is complying with an executive order from the Trump administration to roll back regulations that the White House deems too "burdensome". (Kim X)