SEC and CFTC Commitment to Market Abuse Enforcement

Senior enforcement officials from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) reaffirmed their commitment to policing market abuse despite changes under the Trump administration.

Key Statements

During an American Bar Association event in Miami, SEC acting enforcement director Antonia Apps and CFTC enforcement director Brian Young emphasized that enforcement remains a priority amidst broader policy changes.

> “You can expect to see some changes depending on priorities and different policies that we may pursue,” Apps stated. “But we will move forward with the core enforcement agenda that we have always moved forward with.”

This comes as both agencies are experiencing significant transformations under Republican leadership, with the SEC reviewing its cryptocurrency enforcement policies and the CFTC restructuring its enforcement division.

Government Enforcement Conference

The officials spoke at a government enforcement conference focused on white-collar crime, where Justice Department representatives reportedly withdrew due to ongoing changes within their agency.

Both Apps and Young expressed strong support for enforcement staff, especially amid layoffs and budget cuts as the administration works to reshape the federal workforce. Young stated,
> “In addition to doing a great job, the CFTC enforcement staff are genuinely good people. I think the taxpayers should be indebted to them for what they do for us every day.”

The CFTC prioritizes cases with a strong likelihood of recovering funds for fraud victims.

Notably, the SEC recently paused or dropped active litigation and investigations related to cryptocurrencies. When queried about the future of crypto enforcement, Apps reiterated the agency will continue pursuing cases involving fraud and clear regulatory jurisdiction.

> “We’re not walking away,” Apps confirmed.

This is not investment advice.