i 

MESSAGE FROM THE ACTING INSPECTOR GENERAL

On behalf of the Commodity Futures Trading Commission (CFTC) Office of Inspector General (OIG), 

I am pleased to present this Semiannual Report to the Congress covering the six-month period ending 

September 30, 2023. Our work reflects the legislative mandate of the Inspector General Act, which is to 

prevent and detect fraud, waste, and abuse through the conduct of audits, evaluations, and 

investigations relating to CFTC programs and operations. My appointment as Acting Inspector 

General began May 17, 2023. I am honored for the opportunity to lead the OIG staff who do this 

important oversight work, as well as the contractors who provide important assistance. I want to 

summarize the highlights of this report. 

During the reporting period our Office completed two engagements, and began or continued work on 

three. There was one open recommendation at the close of the reporting period; management 

represents this recommendation has been pending for more than six months due to resource 

constraints. We continue to work closely with the agency to close out recommendations as corrective 

actions are implemented. We began the reporting period with four investigations pending, and there 

were no investigative milestones during the reporting period. We began the reporting period with four 

open allegations and received 40 allegations during the reporting period. We closed one allegation 

from the prior reporting period due to lack of evidence; the 40 new allegations were referred to the 

CFTC Division of Enforcement (32), referred to other federal entities (2), closed due to lack of 

evidence (5), or held open pending development (1). We ended the reporting period with four open 

investigations and four open allegations. Four inspections and evaluations (I&E) were under review 

and pending throughout the reporting period, due to staff departures. More information may be found 

in the audits, investigations, and inspection and evaluations sections of our Semiannual Report. 

CFTC OIG remains committed to helping the agency to maximize the integrity, efficiency, and 

effectiveness of CFTC programs and operations; our audits, investigations, and other activities 

demonstrate our ongoing commitment. Further, our success will not be possible without the 

collaborative efforts between the OIG, CFTC, and the Congress to promote effective stewardship of 

agency programs and operations. I look forward to establishing effective working relationships with 

the Commission and with Congress based on mutual trust and rooted in our commitment to our 

respective missions. I thank all parties for their dedication, and I look forward to leading the CFTC 

OIG as it embarks on a new chapter. 

 

 Dr. Brett M. Baker

 Acting Inspector General 
ii

SEMIANNUAL REPORT

OF THE U.S. COMMODITY FUTURES TRADING COMMISSION

OFFICE OF THE INSPECTOR GENERAL 

April 1, 2023 – September 30, 2023 

TABLE OF CONTENTS

EXECUTIVE SUMMARY .......................................................................................................... 1

CFTC PROGRAMS and OPERATIONS .................................................................................. 1

CFTC OIG RESPONSIBILITIES, RESOURCES, ORGANIZATION, and 

INDEPENDENCE......................................................................................................................... 2

REQUIRED STATEMENT REGARDING INFORMATION ACCESS AND ASSISTANCE ........................... 3

AUDIT OPERATIONS ................................................................................................................ 4

COMPLETED AUDITS, AUDIT REVIEWS, INSPECTIONS, AND OTHER AUDIT PROJECTS .................. 4

Management Letter: FY 2022 Compliance with the Payment Integrity Information Act of 

2019......................................................................................................................................... 4

Council of Inspectors General on Financial Oversight: Audit of the Financial Stability 

Oversight Council’s Efforts to Address Climate-Related Financial Risk ............................... 4

ONGOING AUDITS, AUDIT REVIEWS, AND OTHER AUDIT PROJECTS ............................................ 5

Audit of the CFTC’s FY 2023 Annual Financial Report ........................................................ 5

Audit of the CFTC’s FY 2023 Customer Protection Fund ..................................................... 5

Federal Information Security Management Act (FISMA) Review: FY 2023 ......................... 5

AUDIT REPORTS AND REVIEWS OVER SIX MONTHS OLD; REQUIRED STATEMENTS .................... 5

Table 2: Detail of Unimplemented Recommendations ...................................................... 6

INSPECTIONS AND EVALUATIONS ..................................................................................... 7

ONGOING INSPECTIONS & EVALUATIONS .................................................................................... 7

• CFTC Whistleblower Office’s Confidentiality Protections ............................................ 7

• CFTC Policies and Procedures Concerning Capturing, Retaining and Accessing Cell

Phone Data, Including Text Messages, Location, and Other Information / Data .................. 7

• OIG Inspection and Evaluation of the CFTC’s Current and Post-Covid Lease

Operations and Space Planning ............................................................................................. 7

• OIG Inspection and Evaluation of the CFTC’s Disaster Preparedness ......................... 8

INVESTIGATIVE OPERATIONS ............................................................................................. 8

INVESTIGATIONS .......................................................................................................................... 8

ALLEGATIONS .............................................................................................................................. 8

ONGOING INVESTIGATIVE MATTERS AND REQUIRED DISCLOSURES ............................................ 9

LEGISLATIVE & REGULATORY PROJECTS ..................................................................... 9
iii

PEER REVIEWS........................................................................................................................ 10

Most Recent Peer Review of the CFTC OIG Audit Function ............................................... 10

Most Recent Peer Review of the CFTC OIG Investigative Function.................................... 10

Peer Reviews completed by CFTC OIG during the reporting period .................................. 11

SUMMARY of FINAL REPORTS NOT MADE PUBLIC .................................................... 11

CONTACTING the OFFICE of the INSPECTOR GENERAL ............................................. 11

APPENDICES ............................................................................................................................. 12

Appendix 1 – Reports Issued with Questioned Costs .............................................................. 12

Appendix 2 – Reports Issued with Recommendations That Funds Be Put to Better Use .... 13

Appendix 3 - Index of IG Act Reporting Requirements ......................................................... 14
1

EXECUTIVE SUMMARY

This semiannual report is issued by the Commodity Futures Trading Commission 

(CFTC) Office of the Inspector General (OIG) pursuant to the Inspector General Act of 1978, as 

amended.1 It summarizes OIG’s activities and accomplishments for the period April 1, 2023, 

through September 30, 2023. During this period: 

• The Office of Audits completed one audit in coordination with CIGFO, with no

significant issues noted, and completed a payment integrity compliance review. We

continued work on two financial audits and one cybersecurity audit.

• We began the reporting period with four investigations pending, and there were no

investigative milestones during the reporting period. We ended the reporting period with

four open investigations.

• We began the reporting period with four pending Inspections and Evaluations (I&E). Due

to staff turnover, there were no milestones during the reporting period, and we closed the

reporting period with four pending I&E.

CFTC PROGRAMS and OPERATIONS

Established by statute as an independent agency in 1974, the CFTC assumed 

responsibilities previously belonging to the U.S. Department of Agriculture since the 1920s.2

The mission of the CFTC is: “To promote the integrity, resilience, and vibrancy of the U.S. 

derivatives markets through sound regulation.”3 The CFTC and its predecessor were established 

to protect market participants and the public from fraud, manipulation, and other abusive 

practices in the commodity futures and options markets. After the 2008 financial crisis and the 

subsequent enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act 

(Dodd-Frank Act),

4

 the CFTC’s mission expanded to include oversight of the swaps 

marketplace. 

The Commission consists of five Commissioners appointed by the President, with the 

advice and consent of the Senate, who serve staggered five-year terms. The President appoints 

one of the Commissioners to serve as Chairman. No more than three Commissioners may be 

from the same political party.5 The CFTC maintains offices in Washington, D.C.; New York, 

1 5 USC Chapter 4. 

2 U.S. Commodity Futures Trading Commission, Strategic Plan FY 2020-2024 (May 2020), page 4. All links in this 

paper were last tested on October 25, 2023. 

3 Id., page 3. 

4 P.L. 111-203, 124 Stat. 1376 (2010). 5 7 U.S.C. § 2(a)(2). 
2

NY; Chicago, IL; and Kansas City, MO. The CFTC organization consists of the following 

Divisions and Offices (not including OIG):6

• Division of Clearing and Risk (DCR)

• Division of Enforcement, including the Whistleblower Office (DOE)

• Division of Market Oversight (DMO)

• Market Participants Division (MPD)

• Division of Data (DOD)

• Office of the General Counsel (OGC)

• Division of Administration (DA)

• Office of the Chief Economist (OCE)

• Office of International Affairs (OIA)

• Office of Public Affairs (OPA)

• Office of Technology Innovation (OTI)

• Office of Legislative and Intergovernmental Affairs (OLIA)

• Office of Minority and Women Inclusion (OMWI)

• Office of Customer and Education Outreach (OCEO)

CFTC OIG RESPONSIBILITIES, RESOURCES, ORGANIZATION, 

and INDEPENDENCE

CFTC OIG RESPONSIBILITIES

The CFTC OIG was created in 1989 in accordance with the 1988 amendments to the 

Inspector General Act of 1978.7 OIG was established as an independent unit to: 

• Promote economy, efficiency, and effectiveness in the administration of CFTC programs and

operations, and detect and prevent fraud, waste, and abuse in such programs and operations;

• Conduct and supervise audits and, where necessary, investigations relating to the

administration of CFTC programs and operations;

• Review existing and proposed legislation, regulations, and exchange rules and make

recommendations concerning their impact on the economy and efficiency of CFTC programs

and operations or the prevention and detection of fraud and abuse;

• Recommend policies for, and conduct, supervise, or coordinate other activities carried out or

financed by such establishment for the purpose of promoting economy and efficiency in the

6 https://www.cftc.gov/About/CFTCOrganization/index.htm. 7 The Inspector General Act Amendments of 1988, P.L. 100-504, 102 Stat. 2515 (1988). 
3

administration of, or preventing and detecting fraud and abuse in, its programs and 

operations; and 

• Keep the Commission and Congress fully informed about any problems or deficiencies in the

administration of CFTC programs and operations and provide recommendations for

correction of these problems or deficiencies.

The IG is appointed by the Commission in accordance with the applicable laws and regulations 

governing appointments within the CFTC, and may be removed by a 2/3 majority of the 

Commission. CFTC OIG conducts audit engagements in accordance with the Generally 

Accepted Government Auditing Standards (GAGAS) issued by the Government Accountability 

Office (GAO). OIG conducts inspections, evaluations, and other covered products in accordance 

with the Quality Standards for Inspection and Evaluation issued by the Counsel of the Inspectors 

General on Integrity and Efficiency (CIGIE). OIG investigations are performed in accordance 

with the Quality Standards for Investigations issued by the CIGIE. Our webpage is located at 

https://www.cftc.gov/About/InspectorGeneral. 

CFTC OIG RESOURCES AND ORGANIZATION

CFTC OIG maintains an Office of Audit and Office of Investigations. At the end of the 

reporting period, the CFTC OIG consisted of eleven FTEs, including five vacancies. Staff 

departures of three attorneys in 2022 and 2023, along with the departure of the former Inspector 

General, have hampered our ability to complete investigations, inspections & evaluations, and 

white papers. We are in the process of backfilling these positions. 

OIG INDEPENDENCE

OIG operates independently of the Agency. Our investigations have been pursued 

regardless of the rank or party affiliation of the target. OIG has conducted audits, inspections, 

evaluations, and reviews without intentional, substantive interference whenever it has perceived 

the opportunity to recommend improvement to agency administration and to futures regulation 

efforts, again without regard to the party affiliation of any Chairman or Commissioner.8

 

REQUIRED STATEMENT REGARDING INFORMATION ACCESS AND ASSISTANCE

During the reporting period, no reports were made to the Agency head concerning 

information or assistance unreasonably refused or not provided.9

8 The Inspector General Act of 1978, as amended, states: “[T]he head of the designated Federal entity shall not 

prevent or prohibit the Inspector General from initiating, carrying out, or completing any audit or investigation....” 5 

U.S.C. § 415(d)(1). 9 5 U.S.C. §406(c)(2), §405(b)(21)(B). 
4

Type of Interference Number Explanation

Budget constraints 0 N/A

Resistance to oversight 0 N/A

Delayed information access 0 N/A

Other 0 N/A

AUDIT OPERATIONS 

COMPLETED AUDITS, AUDIT REVIEWS, INSPECTIONS, AND OTHER

AUDIT PROJECTS

Management Letter: FY 2022 Compliance with the Payment Integrity Information Act of 2019 

This management letter followed up on two previous recommendations from the prior year, and 

we concluded CFTC had satisfied both recommendations. In addition, for FY 2022 we 

independently assessed payment risk under the PIIA. We concluded that the CFTC is a Phase 1 

agency (low risk) because payment risk is well below the established OMB threshold (i.e., 

improper payments are not greater than $10 million or 1.5% of outlays). We followed OMB and 

CIGIE guidance in the completion of this report. 

Council of Inspectors General on Financial Oversight: Audit of the Financial Stability Oversight 

Council’s Efforts to Address Climate-Related Financial Risk 

The Dodd-Frank Act authorized the Council of Inspectors General on Financial Oversight 

(CIGFO) to convene working groups of its members to address issues within its jurisdiction. In 

September 2021, CIGFO established a working group to conduct an audit to assess the Financial 

Stability Oversight Council’s (FSOC) response to Executive Order (EO) 14030, Climate-Related 

Financial Risk, issued in May 2021. The review objective was to determine what actions FSOC 

members have taken, or planned, in response to Executive Order (EO) 14030, and whether those 

actions are consistent with the policy, objectives, and directives set forth in the EO. CIGFO 

reported that FSOC’s actions were consistent with the policy, objectives, and directives set forth 

in EO 14030, and that FSOC engaged with the member agencies to assess climate-related 

financial risk. CIGFO made no recommendations. 
5

ONGOING AUDITS, AUDIT REVIEWS, AND OTHER AUDIT PROJECTS

Financial 

Audit of the CFTC’s FY 2023 Annual Financial Report – The objective of this Congressionally 

mandated audit10 is to render an opinion on the agency financial report (financial statements) in 

accordance with GAGAS. 

Audit of the CFTC’s FY 2023 Customer Protection Fund (CPF) – The objective of this 

Congressionally mandated audit11 is to render an opinion on customer protection fund financial 

statements in accordance with GAGAS. 

Information Technology Management and Security 

Federal Information Security Management Act (FISMA) Review: FY 2023 – The objective of 

this review is to evaluate CFTC’s information security program and practices as required by 

FISMA.

12 This year’s audit focused on 40 core controls and was performed with support from 

cybersecurity subject matter experts. 

AUDIT REPORTS AND REVIEWS OVER SIX MONTHS OLD; REQUIRED STATEMENTS

Required Statements Regarding Commission Response Exceeding 60 Days, and Regarding 

Management Decisions Not Made

There were no audit reports issued during the reporting period lacking Commission 

response within 60 days, and no instances of an audit report issued before the commencement of 

the reporting period for which a management decision had not been made by the end of the 

reporting period. 

Required Statements Regarding Revised Management Decisions, and Regarding Inspector 

General Disagreement

No management decisions were revised during the reporting period, and the Inspector 

General did not disagree with any management decisions on OIG audit recommendations during 

the reporting period. 

10 The Accountability of Tax Dollars Act, P.L. 107-289, 116 Stat. 2049 (2002). 11 P.L. 111-203, § 748, 124 Stat. 1739 (2010). 12 P.L. 107-347 (Title III), 116 Stat. 2946 (2002). 
6

Required Statements Regarding Significant Recommendations that have not been 

Completed, and Audit Reports for which there are any Outstanding Unimplemented 

Recommendations, Including Aggregate Potential Cost Savings 

There was one audit report with a management action date over six months old where the 

recommendation for corrective action had not been completed. Outstanding recommendations 

are relayed in the two tables that follow, with explanatory text.

Table 1: Unimplemented Recommendations 

Fiscal

Year

Number of Reports 

with Unimplemented 

Recommendations 

Number of 

Unimplemented 

Recommendations 

Dollar Value of 

Aggregate 

Potential Cost 

Savings

No Comment 

Returned 

w/in 60 days

2021 1 1 0 0

Totals 1 1 0 0

Table 2: Detail of Unimplemented Recommendations 

Fiscal 

Year

Audit Report Unimplemented Recommendations

2021 Federal Information Security 

Management Act Review: FY 2020*

One recommendation to enhance 

CFTC’s privacy program. 

* In FY20, the privacy program determined the Commission’s existing privacy policies and

procedures were out-of-date. In FY21, the program commenced a comprehensive review of

federal privacy laws and policies. In FY22, the privacy program began to work with stakeholders

across the Commission to draft an enterprise privacy policy that aligns with the requirements in

federal privacy laws and policies. In FY23, the privacy program planned to finalize the draft

enterprise privacy program policy and work with the CFTC Policy Governance Board (PGB) to

facilitate the intra-agency review of the proposed policy. Agency management most recently

reports: “Due to competing priorities and limited resources, privacy policies and procedures

remain under development. With a new Chief Privacy Officer on board, as well as an additional

privacy FTE, the privacy program intends to resume the development of policies and procedures

in FY 24.”
7

INSPECTIONS AND EVALUATIONS

We began the reporting period with four I&E in process. In 2022, two attorneys assigned 

to assist I&E departed, and a third attorney departed during this reporting period, which severely 

impacted our timeline for completion of projects. During this reporting period the four I&E were 

being evaluated, there was no change of status, and all four I&E were ongoing at the close of the 

reporting period. 

ONGOING INSPECTIONS & EVALUATIONS

• CFTC Whistleblower Office’s Confidentiality Protections (2021-IE-2) – to assess the

policies and procedures concerning whistleblower confidentiality protections, including

policies and procedures concerning inadvertent disclosures.

• CFTC Policies and Procedures Concerning Capturing, Retaining and Accessing Cell

Phone Data, Including Text Messages, Location, and Other Information / Data (2021-IE3) – to assess the collection and retention policies of the CFTC with respect to CFTC

issued mobile devices. OIG assessed CFTC’s practices for capturing, retaining, and

accessing data created on smartphones issued to CFTC employees and contractors,

including text messages, recorded messages and other recordings, lists, documents,

location data, and other data. On March 31, 2022, OIG issued its draft report and draft

recommendations to agency management. Preliminarily, OIG determined that current

practices risk violations of the Federal Records Act, and are not best practices. OIG

recommended the Agency adjust current practices and current controls, in accordance

with the Federal Records Act, to better enable the Agency to regulate the markets under

its jurisdiction. The March 31, 2022, Management Draft contained six proposed

recommendations, and during the prior reporting period we received the management

response. During this reporting period we clarified the management draft and

recommendations, and reissued it to management on December 22, 2022. We received a

second management response on February 23, 2023, and this second response was

pending with our office at the close of this reporting period.

• OIG Inspection and Evaluation of the CFTC’s Current and Post-Covid Lease Operations

and Space Planning (2022-IE-1) – to assess the CFTC’s space needs post-pandemic and

its plans to meet those needs in an efficient and compliant manner without undue

taxpayer expense. This assessment will be made against the backdrop of the unique

opportunity of the federal government in right-sizing its real estate needs in light of the

adoption of telework and remote work policies and in light of the CFTC’s efforts in

promoting Diversity, Equity, and Inclusion (“DEI”) and the CFTC’s opportunity to

support that DEI vision through nationwide recruiting and employment efforts utilizing

remote work policies. OIG intends to analyze whether CFTC is spending efficiently on

current leases and current space build out, as well as the lessons learned and applied for

each project. The scope of this inspection and evaluation will be FY2019 through

FY2022.
8

• OIG Inspection and Evaluation of the CFTC’s Disaster Preparedness (2022-IE-2) – to

assess the CFTC’s operations for crises preparedness. In particular, OIG will assess

senior leadership’s knowledge and preparedness of succession authorities, continuity of

operations planning and operations, use of GETS cards, and remote, offsite awareness

and capabilities. This I&E is a component of a broader effort by CIGFO13 to identify

risks to the financial stability of the United States; promote market discipline; and

respond to emerging threats to the stability of the U.S. financial system.

We finished this reporting period with four pending I&Es and no pending recommendations. 

INVESTIGATIVE OPERATIONS

INVESTIGATIONS

We began the reporting period with four investigations pending, and there were no investigative 

milestones during the reporting period. There were no findings of whistleblower retaliation 

during this reporting period. There were no reports of investigation involving a senior 

Government employee where allegations of misconduct were substantiated. We ended the 

reporting period with four open investigations. 

ALLEGATIONS

We began the reporting period with four allegations pending and received 40 allegations during 

the reporting period through the OIG email hotlines (24), the OIG online complaint form (11), 

and the OIG phone hotline (5). We closed 40 allegations (one from the prior reporting period) as 

follows: 

o Referred 32 allegations to Division of Enforcement, including the Whistleblower Office

within the Division of Enforcement (or advised the complainant to reach out to the

Division of Enforcement or Whistleblower Office)

o Closed 6 allegations due to inadequate evidence14

o Closed 2 allegations with a referral to a federal entity

Four allegations were pending at the close of the reporting period (three from the prior reporting 

period). 

13 Council of Inspectors General on Financial Oversight Guidance in Preparing for and Managing Crises, June 

2022, CIGFO-2022-1. 14 Please know that OIG retains all investigation and allegation files for a period of 10 years; if additional 

information or allegations are received in the future, a closed matter may be reopened. 
9

ONGOING INVESTIGATIVE MATTERS AND REQUIRED DISCLOSURES

At the close of this reporting period we had four ongoing investigations and four open 

allegations under consideration. All open investigations are confidential, as are the content of 

incoming allegations. As a policy, CFTC OIG does not disclose non-public details regarding 

open investigations absent good cause; if an ongoing investigation is disclosed to the public it

will be listed here. 

Table 3: Investigative Statistics for Referrals and Whistleblower Retaliation

April 1, 2023 – September 30, 202315

A. Completed investigations 3

B. Referrals to prosecuting authorities for criminal prosecution 0 

C. Indictments from prior referrals 0

D. Whistleblower retaliation findings 0

These statistics were generated through an examination of digital files.

It is our practice to discuss potential criminal investigations early with an Assistant 

United States Attorney (AUSA) in order to ensure matters of interest are coordinated from the 

outset. While we engaged with AUSAs during the reporting period as necessary to complete our 

work, no formal referrals for prosecution were made. 

LEGISLATIVE & REGULATORY PROJECTS

1. Introduction and Summary

It is a duty and responsibility of the OIG to review the impact of existing and proposed

legislation and regulations on CFTC programs and operations and makes recommendations 

regarding more effective or efficient alternatives or protections against fraud and abuse.16 The 

OIG also reviews exchange rule proposals circulated to senior staff at the CFTC. 

OIG notifies the responsible Divisions as to any concerns with draft and final documents relating 

to legislation, rules or investigations. Formal comments were not submitted to the Commission

during this reporting period. 

15 We compiled these statistics from a review of our digital files. 16 Codified at 5 USC § 404(a)(2) (made applicable to CFTC OIG at 5 USC § 415(g)).
10

2. Legislative Activities

OIG reviews legislation impacting programs and operations of the CFTC, and initiates

contact with Congressional staff concerning various Agency and IG issues as appropriate. In 

addition, the Acting IG serves on the legislation committee for the Council of Inspectors General 

on Integrity and Efficiency, which comments on proposed amendments to the IG Act and other 

legislation affecting the IG community. CFTC OIG participated in legislation committee efforts. 

No formal projects were undertaken during this reporting period. 

PEER REVIEWS

An important function in each agency OIG is the peer review process. GAGAS requires 

that audit organizations conducting audits of Federal agencies undergo peer reviews every three

years. The IG community has implemented a process to meet this requirement and, in accordance 

with GAGAS and CIGIE peer review quality control and assurance standards, an OIG audit team 

assesses other OIGs’ audit functions. The purpose of the peer review is to determine whether the 

reviewed audit organization’s internal quality control systems are adequate and provide 

reasonable assurance that applicable auditing standards, policies and procedures are met. We are 

required to include in each OIG semiannual report:

• The results of any peer review conducted by another Office of Inspector General during the

reporting period; or if no peer review was conducted within that reporting period, a statement

identifying the date of the last peer review conducted by another Office of Inspector General;

• A list of any outstanding recommendations from any peer review conducted by another

Office of Inspector General that have not been fully implemented, including a statement

describing the status of the implementation and why implementation is not complete; and

• A list of any peer reviews conducted by the Inspector General of another Office of the

Inspector General during the reporting period, including a list of any outstanding

recommendations made from any previous peer review (including any peer review conducted

before the reporting period) that remain outstanding or have not been fully implemented.

The required information follows: 

Most Recent Peer Review of the CFTC OIG Audit Function

The Federal Maritime Commission, Office of the Inspector General, reviewed the system of 

quality control for the CFTC OIG audit organization in effect for the year ending March 31, 

2019. In their opinion, the system of quality control for the audit organization of CFTC has been 

suitably designed and complied with to provide CFTC with reasonable assurance of performing 

and reporting in conformity with applicable professional standards in all material respects. CFTC 

OIG received the highest external peer review rating of “pass.” 

Most Recent Peer Review of the CFTC OIG Investigative Function 
11

Investigative peer reviews are conducted under CIGIE peer review standards to evaluate

compliance with the requirements of the CIGIE Quality Standards for Investigations and the 

adequacy of internal safeguards and management procedures. Because it is a Designated Federal 

Entity Inspector General, the CFTC OIG investigative function is not required to undergo peer 

review. CFTC OIG last voluntarily submitted to a peer review of its investigative function in 

2013; the Federal Trade Commission, Office of Inspector General, reviewed the system of 

quality control for the CFTC OIG investigative function and concluded that the system of 

internal safeguards and management procedures for the CFTC OIG investigative function 

complied with the quality standards adopted by CIGIE, and provided a reasonable assurance of 

conforming with professional standards in the conduct of investigations. 

Peer Reviews completed by CFTC OIG during the reporting period 

CFTC OIG completed no peer reviews of other OIGs during this reporting period. There are 

no open recommendations from prior peer reviews conducted by CFTC OIG. 

SUMMARY of FINAL REPORTS NOT MADE PUBLIC

All reports issued during this reporting period were published as required by law. The 

OIG report titled Federal Information Security Management Act (FISMA) Review: FY 2022 was 

not published due to information technology sensitivities. In addition, reports of investigation 

generally are not published unless the information has become public, or the matter has received 

widespread attention. 

CONTACTING the OFFICE of the INSPECTOR GENERAL

OIG is located at 1155 21st Street, N.W., Washington, D.C. 20581. Regular business 

hours are between 8:30 AM and 5:00 PM, Monday through Friday, except federal holidays. Our

general telephone number is (202)418-5110. Our facsimile number is (202)418-5522. Our email 

address for general questions and discussion is OIG@cftc.gov. 

Our email for complaints is OIGComplaint@cftc.gov. The hotline phone number is 

(202)418-5510. OIG’s web page, with a link to the OIG online complaint form, is located at

http://www.cftc.gov/About/OfficeoftheInspectorGeneral/index.htm. You may choose to remain

anonymous.
12

APPENDICES 

Appendix 1 – Reports Issued with Questioned Costs

Apri1, 2023 – September 30, 2023 

Dollar Value

Thousands

Number Questioned Unsupported

A. For which no management decision has

been made by the commencement of the

reporting period 0 0 0

B. Which were issued during the reporting

period 0 0 0

Subtotals (A + B) 0 0 0

C. For which a management decision was

made during the reporting period 0 0 0

( I ) dollar value of 

disallowed costs 0 0 0

( ii ) dollar value of costs not 

disallowed 0 0 0

D. For which no management decision

has been made by the end of the

reporting period 0 0 0
13

Appendix 2 – Reports Issued with Recommendations That Funds Be 

Put to Better Use

April 1, 2023 – September 30, 2023

Dollar Value

Number Thousands

A. For which no management decision has

been made by the commencement of the

reporting period 0 0

B. Which were issued during the reporting

period 0 0

Subtotals (A + B) 0 0

C. For which a management decision was

made during the reporting period 0 0

( i ) dollar value of 

recommendations that 

were agreed to by management

0 0

( ii ) dollar value of 

recommendations that 

were not agreed to by 

management 0 0

D. For which no management decision

has been made by the end of the

reporting period 0 0
14

Appendix 3 - Index of IG Act Reporting Requirements

5 USC § 404(a)(2) Review of legislation and regulations...............................................9

5 USC § 405(b)(1) Significant problems, abuses and deficiencies.....................................4

5 USC § 405(b)(2) Recommendations with respect to significant problems............................4

5 USC § 405(b)(3) Significant recommendations that have not been completed...................6

5 USC § 405(b)(4) Matters referred to prosecutorial authorities.....................................9

5 USC § 405(b)(5) Summary of instances where information was refused ..........................3

5 USC § 405(b)(6) Completed audit reports...............................................................4

5 USC § 405(b)(7) Significant audit reports..............................................................4

5 USC § 405(b)(8) Statistical Table—Questioned Costs.............................................12

5 USC § 405(b)(8) Statistical Table—Funds Recommended for Better Use ......................13

5 USC § 405(b)(9) Audit reports lacking management decision .....................................5

5 USC § 405(b)(10) Audit reports without Commission response after 60 days.....................5

5 USC § 405(b)(10) Audit reports for which there are any outstanding unimplemented 

recommendations, including the aggregate potential cost savings ...........6

5 USC § 405(b)(11) Significant revised management decisions ....................................... 5 

5 USC § 405(b)(12) Significant management decisions where the IG disagrees....................5

5 USC § 405(b)(13) Information described under § 804(b) of the Federal Financial 

Management Improvement Act of 1996 .....................................N/A 

5 USC § 405(b)(14) Peer Review information ........................................................ 10

5 USC § 405(b)(17) Statistical tables for investigations................................................9

5 USC § 405(b)(18) Description of metrics used to develop the statistical tables for 

investigations........................................................................9

5 USC § 405(b)(19) Report on each investigation involving a senior Government employee 

where allegations of misconduct were substantiated ...........................8

5 USC § 405(b)(20) Whistleblower retaliation findings ...............................................8

5 USC § 405(b)(21) Attempts to interfere with OIG independence ..................................3

5 USC § 405(b)(22) Summary of final reports not made public.....................................11

5 USC § 406(c) Summary of reports to Chairman where assistance was refused.............3