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US CFTC governance, culture must be reformed, Commissioner Pham says

By Neil Roland ( July 8, 2024, 19:59 GMT | Insight) -- Caroline Pham, a Republican member of the US Commodity Futures Trading Commission, said the agency’s “deficiencies across governance and culture” need to be addressed.  In a redacted public statement, she cited “lack of appropriate action by CFTC management at many levels” on a court “admonishment” for lack of prosecutorial candor in a fraud case against proprietary trading firm Traders Global Group. More broadly, Pham said the enforcement division hasn’t been candid with the commission on its recommendations — omitting evidence and legal arguments in administrative proceedings.Caroline Pham, a Republican member of the US Commodity Futures Trading Commission, said the agency’s “deficiencies across governance and culture” need to be addressed....

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