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.

“If the CFTC were to be given criminal prosecution authority, I think it would significantly enhance the deterrent effects of the existing regulatory scheme,” Chilton...
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