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Financial Institutions: CFTC Oversight

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Report Type Reports and Testimonies
Report Date Aug. 26, 1992
Report No. GGD-92-28R
Subject
Summary:

Pursuant to a congressional request, GAO reviewed the Commodity Futures Trading Commission's (CFTC) and self-regulatory organizations' (SRO) oversight of compliance with industry financial requirements by futures commission merchants. GAO found that: (1) CFTC and SRO have policies and procedures for monitoring compliance, which they followed in general; (2) SRO maintain watch lists of firms suspected of having financial problems, and have automated financial oversight systems to assist in monitoring member firms; and (3) CFTC and SRO audit reports and related workpapers adequately documented completion of all required audit procedures.

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