CFTC Settlement ‘No-Deny’ Policy Rescission

Current understanding

The CFTC has rescinded its longstanding policy that prohibited respondents and defendants who settled administrative or civil enforcement proceedings from publicly denying the allegations against them. Under the new approach, settling parties will have greater latitude to contest or deny the factual allegations underlying a settlement even after entering into it. Status: final action (rescission).

Evidence log

• 2026-05-21 — Rescission of Policy Regarding Denials in Settlements of Enforcement Actions: SEC announced a parallel rescission of its own informal ‘no-deny’ policy for settlements in judicial or administrative enforcement proceedings, mirroring the CFTC action and signaling a cross-agency shift in enforcement settlement practice. (novelty: 2)

Open questions

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