The Commodity Futures Trading Commission (CFTC) today rescinded a long-standing policy that prohibited the acceptance of settlement offers from defendants who continued to deny allegations in enforcement actions. This change, codified in Appendix A to Part 10, marks a significant shift in the agency's approach to resolving administrative and civil proceedings.
The previous policy mandated that the Commission would not accept settlements if the defendant did not admit to the allegations. The rescission means the CFTC can now accept settlements where defendants neither admit nor deny the charges, aligning its practice with other regulatory bodies.