Employee Financial Disclosure

CFTC System Affords Reasonable Protection Against Conflicts of Interest Gao ID: GGD-91-3 November 7, 1990

Pursuant to a congressional request, GAO evaluated the Commodity Futures Trading Commission's (CFTC) employee financial disclosure system to determine whether it reasonably ensured prevention, detection, and resolution of conflicts between its employees' duties and their outside interests.

GAO found that CFTC: (1) restricted employees' outside financial activities; (2) required employees to annually file financial disclosure reports or certifications of compliance indicating a lack of conflicts of interest; (3) required 349 of its 558 employees to file reports or certifications in 1989; (4) took follow-up steps to obtain 11 late reports from employees; (5) included steps in its review of reports to detect errors and conflicts of interest; (6) did not always timely review reports or make conflict-of-interest decisions; (7) did not require such additional information as financial transactions and value of outside interests in confidential disclosure reports; and (8) implemented most of the Office of Government Ethics' (OGE) 1986 recommendations.


Our recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.

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