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117522 1 (1982-02-18)

handle is hein.gao/gaobacstl0001 and id is 1 raw text is: 


           NITC:   STATES GENERAL ACCOUNTING OFFICE                .2.

                   WASHINGTON,  D.C.  2V548

                                       FOR RELEASE ON DELIVERY
                                       EXPECTED AT 10 A.M. EST
                                       THURSDAY, FEBRUARY 18, 1982

                        STATEMENT  OF

                  HENRY  ESCHWEGE, DIRECTOR

        COMMUNITY AND ECONOMIC DEVELOPMENT  DIVISION

                        BEFORE THE

    COMMERCE, CONSUMER, AND MONETARY  AFFAIRS SUBCOMMITTEE

                           OF THE

           HOUSE COMMITTEE ON GOVERNMENT  OPERATIONS

                           ON THE

             COMMODITY FUTURES TRADING COMMISSION


     WE WELCOME THE OPPORTUNITY TO BE HERE  TO ASSIST THE SUBCOM-

MITTEE IN ITS OVERSIGHT OF THE COMMODITY  FUTURES TRADING COMMIS-

SION (CFTC).  WE HAVE JUST COMPLETED A MAJOR  REVIEW OF THE

COMMODITY FUTURES TRADING COMMISSION.  WE HAVE  PROVIDED OUR DRAFT

REPORT TO YOU.  CONCURRENTLY, WE SUPPLIED  THE REPORT TO THE COM-

MISSION FOR COMMENT.  I WILL SUMMARIZE OUR  PRINCIPAL FINDINGS AND

PROPOSED ACTIONS IN AREAS OF CONCERN TO THE  SUBCOMMITTEE.

     OVERALL, WE NOTED NUMEROUS IMPROVEMENTS  IN THE COMMISSION'S

PERFORMANCE SINCE OUR 1978 REVIEW.  HOWEVER, WE FOUND  THAT EACH OF

THE COMMISSION'S KEY REGULATORY PROGRAMS WE EXAMINED,  INCLUDING

REGISTRATION, SURVEILLANCE, AND RULE ENFORCEMENT REVIEWS,  NEED

TO WORK BETTER IF RAPIDLY EXPANDING TRADING ACTIVITY ON  THE





                                                          117522

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