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Commodity Future Trading Commission Elect: A Win for the “Revolving Door”

April 13, 2009

The Commodity Futures Trading Commission (CFTC) is an independent agency of the United States government.

The Commodity Exchange Act (CEA), 7 U.S.C. § 1 et seq., prohibits fraudulent conduct in the trading of futures contracts. In 1974,Congress amended the Act to create a more comprehensive regulatory framework for the trading of futures contracts and created the Commodity Futures Trading Commission, replacing the Commodity Exchange Authority. The stated mission of the CFTC is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets. (http://en.wikipedia.org/wiki/Commodity_Futures_Trading_Commission)

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