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117649 1 (1982-02-24)

handle is hein.gao/gaobacstp0001 and id is 1 raw text is: 

United States General Accounting Office
       Washington, D.C.  20548


1; -76L/q


FOR RELEASE ON DELIVERY
Expected at 11:00 a.m.
February 24, 1982


                 Statement of

         Henry Eschwege, Director

 Community and Economic Development Division

                  before the

Senate Permanent Subcommittee on Investigations

                    of the

       Committee on Governmental Affairs

                      on


1 1 11 11 1 1


            Customer Protection Activities  of the

            Commodity  Futures Trading  Commission

Mr. Chairman and Members of the Subcommittee:

     We welcome your  invitation to be here today to discuss our

work relating to the Commodity Futures  Trading Commission (CFTC).

We have recently reviewed CFTC's major  programs for ensuring the

integrity of futures markets and protecting  futures customers.  I

will direct my remarks to the programs of greatest  interest to the

subcommittee--the reparations program,  registration of commodity

professionals, and audit and financial  surveillance.

REPARATIONS AND OTHER FORUMS
FOR RESOLUTION OF CUSTOMER CLAIMS
NEED TO BE MADE MORE EFFECTIVE

     In 1974 the Congress amended the Commodity  Exchange Act to

establish a reparations program to  serve as a forum to resolve

the claims of commodity customers against  industry professionals

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