What is The Commodity Futures Trading Commission?

The Commodity Futures Trading Commission (CFTC) is an independent U.S. federal agency, set up in 1974 by Congress. The Commodity Futures Trading Commission is responsible for monitoring trades in commodities, futures and options for any fraudulent practices with the aim of promoting competitive and efficient trading amongst companies, while protecting investors against manipulation and abusive trading practices. It has the power to fine or suspend any companies or traders who are in breach of trading laws.