Commodity Futures Trading Commission (CFTC)
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The CFTC, the Federal regulatory agency for futures trading, was established by the Commodity Futures Trading Commission Act of 1974. The Commission began operation in April 1975, and its authority to regulate futures trading was renewed by Congress in 1978, 1982, 1986, 1992, 1995, and 2000.
The mission of this agency is to protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity futures and options, and to foster open, competitive, and financially sound commodity futures and option markets.
The Commission consists of five Commissioners who are appointed by the President, with the advice and consent of the Senate. One Commissioner is designated by the President to serve as Chairman. The Commissioners serve staggered 5-year terms, and by law no more than three Commissioners can belong to the same political party.
The Registration Deficient (ReD List),contains names of foreign entities that appear to be acting in a capacity that requires registration with the CFTC, but they are NOT registered with the CFTC.
The inclusion of an entity’s name on the ReD List does not mean that the CFTC or a court has concluded that a violation of any provision of the Commodity Exchange Act or the Commission’s Regulations has occurred. However, you should be cautious of unregistered firms or individuals when participating in products or markets that historically have seen a large number of fraud complaints — these include binary options, forex, digital currencies (cryptocurrencies), commodity pools, and precious metals.
The ReD List is developed from tips and leads from the public or other sources. Help CFTC protect other traders. If you have a ReD List lead, send CFTC the web address at: consumers@cftc.gov.
