The Commodity Futures Trading Commission has told the Minneapolis Grain Exchange to enlarge its team of compliance officers after concluding that high staff turnover “strained MGEX’s ability to perform all of its self-regulatory functions”.
The CFTC has published the findings of a routine rule enforcement review conducted by its division of market oversight between October 1, 2006 and June 30, 2008.
The division assessed MGEX’s compliance relating to market surveillance, audit trail, trade practice surveillance and disciplinary and dispute resolution programmes.
It also evaluated the adequacy of MGEX’s resources to effectively perform its self-regulatory functions during...