CFTC Advisory Outlines Materiality Criteria for Enforcement Referrals

On April 17, 2025, three operating divisions (the “Operating Divisions”) of the U.S. Commodity Futures Trading Commission (“CFTC”) and the Division of Enforcement (“DOE”) provided guidance in CFTC Letter 25-13 (the “Supplemental DOE Advisory”) on the criteria that the Operating Divisions will apply when deciding whether to make a referral to DOE....
By: Morrison & Foerster LLP

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