PUBLIC AGENCIES AND INVESTOR COMPENSATION: EXAMPLES FROM THE SEC AND CFTC

Winship examines proposals to consolidate the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), including the Treasury's recent Blueprint for a Modernized Financial Regulatory Structure (Blueprint). She details how the SEC and the CFTC, respectively, compensate investors, focusing on the SEC's use of Fair Funds to distribute penalty amounts to injured investors and the CFTC's Reparations Program. In addition, she proposes that the two approaches should be unified in a way that maximizes information generation.