Emphasizing an end to “regulation by enforcement,” the agency will focus on market integrity and fraud offenses and partner with registered exchanges and other authorities.
On March 31, 2026, David I. Miller, the newly appointed Director of Enforcement at the Commodity Futures Trading Commission (CFTC or the Commission), delivered remarks at NYU School of Law outlining the Division of Enforcement’s priorities under CFTC Chairman Michael Selig’s leadership.1
Noting that “[t]he era of regulation by enforcement is over,” Director Miller outlined five key areas of focus for the Division of Enforcement: (1) insider trading; (2) market manipulation; (3) disruptive trading; (4) retail fraud; and (5) willful anti-money laundering (AML) and know-your-customer (KYC) violations. According to Director Miller, each of these five areas “reflects our core mission: protecting market integrity by targeting fraud, abuse, and manipulation.” He added that the Division of Enforcement is “committed to addressing these priority areas” and “will be hiring additional staff” to help do so.
