Dec 07, 2017
Kyle DeYoung comments on the CFTC's new take on enforcement, specifically self-reporting and cooperation.
An excerpt from "CFTC Enforcement Head on Criticism of Self-reporting Policy," IFLR, December 7, 2017:
The priority shift has led many to question certain aspects of the policy and process of self-enforcement and certain discrepancies in clarity and messaging, said Kyle DeYoung, partner at Cadwalader Wickersham & Taft.
“There are a few other aspects when you go through it closely where there is some ambiguity, and the concrete guidance doesn’t go as far as the speech goes,” he said. “There are some places where if you are somebody who is considering cooperating you wish they had gone a little further in spelling out exactly what it means.”
DeYoung however said that the policy does offer a degree of comfort, and that even in a situation where a company is going to have to self-report anyway this is a useful guide as to how you they should go about it.
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CREFC is the trade association for the commercial real estate finance industry.