Semiannual Report To Congress, October 2011 - March 2012.pdf

The Commodity Futures Trading Commission's (CFTC) Office of Inspector General (OIG) submitted its semiannual report for the period from October 1, 2011, through March 31, 2012. The report summarizes OIG's activities and accomplishments, including completing two audits, conducting one procurement, issuing a discussion of management challenges, and completing one preliminary investigation. Highlights of OIG's projects include:

A required audit of the CFTC Customer Protection Fund found the financial statements to be presented fairly and in conformity with U.S. generally accepted accounting principles.
The fiscal year 2011 audit of the CFTC financial statements found them to be presented fairly and in conformity with U.S. generally accepted accounting principles for Federal agencies.
Reviews of compliance with the Federal Managers' Financial Integrity Act and the Federal Information Security Management Act found no significant issues.
An assessment of the most serious management challenges facing the CFTC identified human resource expansion and management, efficient deployment of information technology resources, and expanding delivery of customer protection resources and consumer education.
A review of CFTC's oversight and regulation of MF Global, Inc. is ongoing.
An audit of the Financial Stability Oversight Council's controls over sensitive and proprietary information is ongoing.
A preliminary investigation into allegations pertaining to the Dodd-Frank rulemaking addressing position limits for swaps found no violative or improper misconduct.
An inspection into record retention practices by the Division of Enforcement is nearing completion.
A limited review of CFTC's compliance with the Improper Payments Elimination and Recovery Act found no significant issues.
An investigation into an allegation of misconduct by staff and management in the Office of Proceedings was conducted by the Treasury Inspector General for Tax Administration and found no findings.