    [United States Government Manual]
    [June 01, 2000]
    [Pages 377-379]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    COMMODITY FUTURES TRADING COMMISSION

    1155 Twenty-first Street NW., Washington, DC 20581

    Phone, 202-418-5000. Internet, www.cftc.gov.
    Chairman                                          William J. Rainer
    Commissioners                                     Thomas J. Erickson,
                                                              Barbara P.
                                                              Holum, James
                                                              E. Newsome,
                                                              David D.
                                                              Spears
    General Counsel                                   C. Robert Paul
    Executive Director                                Donald L. Tendick,
                                                              Acting

    [For the Commodity Futures Trading Commission statement of organization,
            see the Code of Federal Regulations, Title 17, Part 140]

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    The mission of the Commodity Futures Trading Commission is to protect
    market users and the public from fraud, manipulation, and abusive
    practices related to the sale of commodity futures and options, and to
    foster open, competitive, and financially sound commodity futures and
    option markets.

    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
    Commissioners serve staggered 5-year terms, and by law no more than
    three Commissioners can belong to the same political party.

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        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 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.
        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 oversees the rules under which an exchange operates 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 Twenty-first Street NW., Washington, DC
    20581. Phone, 202-418-5080. Internet, www.cftc.gov.

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