He argued that the new focus on self-reporting wasn’t a softening of the commission’s law enforcement strategy. When it comes to oversight of the financial industry, early indications point to a softening approach. With 706 full-time employees, including 178 in its enforcement division, it is far smaller than other law enforcement agencies. Wall Street came to view the Commodity Futures Trading Commission as a major source of frustration. Representatives of the financial industry said the new tone was a welcome shift from an era when industry perceived the commission as being hellbent on extracting severe punishments.

Source: New York Times September 25, 2017 00:01 UTC