The U.S. Commodity Futures Trading Commission (CFTC) has restructured its Division of Enforcement under Acting Chair Caroline Pham, shifting its focus towards fraud prevention instead of regulation by enforcement. The previous administration had various task forces aimed at insider trading, cybersecurity, and environmental fraud. The new structure consolidates these efforts into two key task forces: the Complex Fraud Task Force, which will address complex fraud and manipulation across all asset classes, and the Retail Fraud and General Enforcement Task Force, which will handle retail fraud issues. Pham emphasized that these changes aim to utilize CFTC resources more efficiently and to promote market integrity while ensuring fairness and due process in enforcement activities. This approach mirrors a similar pivot at the U.S. Securities and Exchange Commission, where the current leadership is also moving away from a regulation by enforcement strategy. The new focus is intended to better serve the public and protect investors from fraudulent activities.

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