Commodities exchanges (11 - 20 of 44 items)
Results Act: Observations on CFTC's Strategic Plan
T-GGD-98-17: Published: Oct 22, 1997. Publicly Released: Oct 22, 1997.
Pursuant to a congressional request, GAO assessed the Commodity Futures Trading Commission's (CFTC) strategic plan for compliance with the Government Performance and Results Act.GAO noted that: (1) CFTC's strategic plan contained all of the major components required by the Results Act; (2) there are several areas in which CFTC could improve its plan; (3) the plan defines goals and objectives that...
The Commodity Exchange Act: Legal and Regulatory Issues Remain
GGD-97-50: Published: Apr 7, 1997. Publicly Released: Apr 7, 1997.
GAO reviewed the legal and regulatory issues surrounding the Commodity Exchange Act (CEA), focusing on: (1) the extent to which the Commodities Futures Trading Commission (CFTC) has reduced the legal risk surrounding the enforceability of over-the-counter (OTC) derivatives under the CEA; and (2) issues related to the appropriate regulation for exchange-traded futures and OTC derivatives contracts,...
Futures Markets: Heightened Audit Trail Standards Not Met But Progress Continues
GGD-96-177: Published: Sep 25, 1996. Publicly Released: Sep 25, 1996.
Pursuant to a congressional request, GAO provided information on the Commodity Futures Trading Commission's (CFTC) actions to enforce Futures Trading Practices Act (FTPA) audit trail provisions.GAO found that: (1) 7 U.S. futures exchanges are in compliance with FTPA 1-minute trade timing and sequencing standards; (2) CFTC is unable to determine the status of four other exchanges until it reviews t...
Initial Public Offerings: Guidance Needed on Disclosure of Underwriters' Disciplinary Histories
GGD-96-5: Published: Jun 6, 1996. Publicly Released: Jun 6, 1996.
GAO addressed concerns about the initial public offerings (IPO) allocation process, focusing on: (1) the factors that influence underwriters to sell IPO shares to institutional investors and individual investors; (2) disclosure requirements concerning the history of disciplinary actions taken against an underwriter; and (3) Securities and Exchange Commission (SEC) rules governing the IPO market.GA...
Financial Market Regulation: Benefits and Risks of Merging SEC and CFTC
T-GGD-95-153: Published: May 3, 1995. Publicly Released: May 3, 1995.
GAO discussed the proposed Markets and Trading Reorganization and Reform Act, focusing on: (1) the merger of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC); and (2) whether the potential benefits of the merger outweigh the potential risks. GAO noted that: (1) the benefits of merging SEC and CFTC include reduced regulatory uncertainty, which would e...
Financial Derivatives: Actions Needed to Protect the Financial System
GGD-94-133: Published: May 18, 1994. Publicly Released: May 18, 1994.
Pursuant to congressional requests, GAO reviewed financial derivative products, focusing on: (1) the extent and nature of derivatives' use; (2) what risks derivatives pose to individual firms and the financial system; (3) firms' and regulators' attempts to control these risks; (4) gaps and inconsistencies in U.S. regulation of derivatives; (5) whether financial reports provided adequate informatio...
Futures Markets: A Futures Transaction Fee Is Administratively Feasible
GGD-94-40: Published: Oct 28, 1993. Publicly Released: Oct 28, 1993.
Pursuant to a legislative requirement, GAO reviewed the feasibility of implementing a futures transaction fee to fund additional Commodity Futures Trading Commission (CFTC) enforcement and market surveillance activities, focusing on whether the fee will provide CFTC with additional resources to oversee the futures markets.GAO found that: (1) a futures transaction fee is administratively feasible;...
Futures Markets: Preliminary Information Related to a Futures Transaction Fee
GGD-93-108: Published: May 17, 1993. Publicly Released: May 17, 1993.
GAO provided information on futures transaction fees, focusing on fees charged by: (1) federal regulators of financial markets and institutions; (2) futures and securities exchanges; and (3) foreign countries that make up the majority of global futures trading volume.GAO found that: (1) while the Securities and Exchange Commission had collected fees totalling more than 130 percent of its appropria...
Securities and Futures Markets: Cross-Border Information Sharing Is Improving, but Obstacles Remain
GGD-92-110: Published: Jul 28, 1992. Publicly Released: Jul 28, 1992.
Pursuant to a congressional request, GAO provided information on U.S. oversight of international market activity, focusing on: (1) the types of information various nations' securities and futures regulators need in order to share and meet market oversight responsibilities; (2) the extent to which information is currently shared; (3) the types and effectiveness of arrangements used for sharing info...
Securities and Futures Markets: Efforts to Detect Intermarket Frontrunning
GGD-91-135: Published: Sep 26, 1991. Publicly Released: Oct 28, 1991.
Pursuant to a congressional request, GAO reviewed regulatory efforts to detect intermarket frontrunning, which occurs when market participants improperly trade stocks, stock options, stock index options, or stock index futures on the basis of nonpublic market information about imminent and material transactions in those instruments.GAO found that: (1) although some market participants state that i...