CFTC probed CDS market under last enforcement head
Goelman compares manufactured payouts to match-fixing, and says CFTC has jurisdiction to bring case
The former head of the US Commodity Futures Trading Commission’s division of enforcement has backed the agency’s efforts to clamp down on ‘manufactured’ credit default swap payouts, in which a market participant strikes an agreement with the reference entity, helping both firms but potentially hurting other CDS users.
Aitan Goelman, who stepped down as the CFTC’s top prosecutor in January 2017
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