[United States Government Manual] [June 02, 1998] [Pages 497-499] [From the U.S. Government Publishing Office, www.gpo.gov]COMMODITY FUTURES TRADING COMMISSION 1155 21st Street NW., Washington, DC 20581 Phone, 202-418-5000 Chairperson Brooksley Born Commissioners Barbara P. Holum, David D. Spears, John E. Tull, Jr., (vacancy) General Counsel Daniel R. Waldman Executive Director Linda Ferren [For the Commodity Futures Trading Commission statement of organization, see the Code of Federal Regulations, Title 17, Part 140] ------------------------------------------------------------------------ The Commodity Futures Trading Commission promotes healthy economic growth, protects the rights of customers, and ensures fairness and integrity in the marketplace through regulation of futures trading. To this end, it also engages in the analysis of economic issues affected by or affecting futures trading. The Commodity Futures Trading Commission (CFTC) , the Federal regulatory agency for futures trading, was established by the Commodity Futures Trading Commission Act of 1974 (7 U.S.C. 4a). The Commission began operation in April 1975, and its authority to regulate futures trading was renewed by Congress in 1978, 1982, 1986, 1992, and 1995. The Commission consists of five Commissioners who are appointed by the President, with the advice and consent of the Senate. One Commissioner is designated by the President to serve as Chairperson. The [[Page 498]] [GRAPHIC] [TIFF OMITTED] T177653.032 [[Page 499]] Commissioners serve staggered 5-year terms, and by law no more than three Commissioners can belong to the same political party. The Commission has five major operating components: the Divisions of Enforcement, Economic Analysis, and Trading and Markets, and the Offices of the Executive Director and the General Counsel. Activities The Commission regulates trading on the 11 U.S. futures exchanges, which offer active futures and options contracts. It also regulates the activities of numerous commodity exchange members, public brokerage houses (futures commission merchants), Commission-registered futures industry salespeople (associated persons), commodity trading advisers, and commodity pool operators. Some off-exchange transactions involving instruments similar in nature to futures contracts also fall under Commission jurisdiction. The Commission's regulatory and enforcement efforts are designed to ensure that the futures trading process is fair and that it protects both the rights of customers and the financial integrity of the marketplace. It approves the rules under which an exchange proposes to operate and monitors exchange enforcement of those rules. It reviews the terms of proposed futures contracts, and registers companies and individuals who handle customer funds or give trading advice. The Commission also protects the public by enforcing rules that require that customer funds be kept in bank accounts separate from accounts maintained by firms for their own use, and that such customer accounts be marked to present market value at the close of trading each day. Large regional offices are maintained in Chicago, IL, and New York, NY, where many of the Nation's futures exchanges are located. Smaller regional offices are located in Kansas City, MO, and Los Angeles, CA. A suboffice of the Kansas City regional office is located in Minneapolis, MN. For further information, contact the Office of Public Affairs, Commodity Futures Trading Commission, 1155 21st Street NW., Washington, DC 20581. Phone, 202-418-5080. ------------------------------------------------------------------------