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Compliance January 9, 2002
CFTC: Operations Uninterrupted
September 13, 2001 (PLANSPONSOR.com) - Officials of
the Commodity Futures Trading Commission, who occupied the
37th floor of the North Tower of the World Trade Center, are
vowing to continue their work despite this week's terrorist
attacks.
Reported by Camilla Klein
Employees were evacuated shortly after the first plane hit and had reached the street when the towers fell. All CFTC employees have since been accounted for.
The CFTC, created by Congress to regulate US commodity futures and option markets, protects market participants against manipulation, abusive trade practices, and fraud.
“Although the agency’s offices were completely destroyed, its operations will continue uninterrupted since the New York office’s surveillance systems are backed up at the agency’s offices in both Washington DC and Chicago,” R. David Gary, deputy director at the Office of Public Affairs told PLANSPONSOR.com.
Plans for new New York City office space are still up in the air, he said.
“We are hoping that one of the exchanges downtown may be able to accommodate our New York market surveillance operations,” Gary added. “But failing that, we will have to find new space to lease.”