On May 19, 2026, the Commodity Futures Trading Commission (CFTC)’s Division of Enforcement (Division) issued a new Division Policy on Cooperation (2026 Policy) establishing a revised enforcement policy for evaluating self-reporting, cooperation, remediation, restitution and/or disgorgement. The 2026 Policy rescinds and supersedes the Division’s 2025 Enforcement Advisory (2025 Advisory), providing a more structured and specific – and in some respects more rewarding – framework for registrants to self-report. The availability of a formal declination pathway for registrants that fully cooperate, remediate, and make victims whole represents a significant incentive for prompt and complete disclosure. At the same time, the elimination of the 2025 Advisory’s tiered matrix in favor of threshold requirements means that partial credit for incomplete cooperation or remediation is more limited.
CFTC Division of Enforcement Issues New Cooperation Policy
