CFTC Member Calls For Criminal Authority

Law360, New York (February 10, 2009, 12:00 AM EST) -- As public clamor mounts for criminal prosecutions of financial fraud, a member of the U.S. Commodity Futures Trading Commission is pushing Congress to give the CFTC the authority to pursue criminal prosecutions.

Commissioner Bart Chilton used a speech at the Brookings Institution on Tuesday to call for more sweeping prosecutorial powers, arguing that it would make prosecutions faster and more effective.

ā€œIf the CFTC were to be given criminal prosecution authority, I think it would significantly enhance the deterrent effects of the existing regulatory scheme,ā€ Chilton...
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