United States:
CFTC Chair Giancarlo Issues Statement On Agency Operations During Government Shutdown
07 January 2019
Cadwalader, Wickersham & Taft LLP
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CFTC Chair J. Christopher Giancarlo issued a statement on agency operations in the
event of a lapse in funding.
According to Mr. Giancarlo, the CFTC will be required to cease
operations other than those excepted under the Anti-Deficiency Act. Despite these
restrictions, the CFTC will continue to carry out its
"market-critical functions," he said. These functions
include:
- monitoring futures and swaps
markets;
- carrying out essential enforcement
activities; and
- analyzing market activity in futures
and swaps for "any potential impact on the clearing
system."
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