The Commodity Futures Trading Commission has rescinded its policy, codified in Appendix A to Part 10, that barred the agency from accepting settlement offers when a defendant continued to deny the allegations in a complaint or administrative order. The change aligns the CFTC with most federal agencies and gives it more flexibility to settle enforcement cases, with the agency citing resource savings, greater certainty and the potential to speed the return of money to injured investors. The CFTC said the public interest impact of such denials may be minimal and that the policy may have created the impression that the agency was trying to shield itself from criticism. Following the rescission, the Commission will not enforce no deny provisions already included in existing settlements. The change does not alter the CFTC's discretion to settle with defendants who do not admit facts or liability, or to seek admissions as part of a settlement.
Commodity Futures Trading Commission2026-06-03
Commodity Futures Trading Commission rescinds no deny settlement policy and stops enforcing existing clauses
The Commodity Futures Trading Commission has rescinded its “no-deny” settlement policy in Appendix A to Part 10, allowing it to accept settlements from defendants who continue to deny allegations. The agency said the change aligns it with most federal agencies, may reduce resource use and speed restitution to investors, and will result in non-enforcement of existing no-deny provisions. The CFTC’s discretion to require or forgo admissions of facts or liability in settlements remains unchanged.