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CFTC chairman Gary Gensler addresses CFTC's investigation into financial fraud and calls for his resignation.
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We at the CFTC.
Are gonna look at.
Matters around hair -- matters that simply -- was Chief Executive Officer forging bank statements.
Lying to his outside auditors and taking customer money.
That's what we've alleged in the charges and right media criminal authorities charge.
But the system failed investors and we're gonna take a deep look to see how we can do better this -- That regulation.
Well we -- all of us we don't know all the facts yet the front -- regulators the national futures association.
-- part -- audits also outside independent auditors to do it yearly.
We're not gonna stop bank robberies in America and we're not going to be of the stop financial fraud.
But we on the that you better.
And learn from these situations.
That are -- -- -- for your resignation.
I'm I'm deeply honored to be in this job I think there's a great deal more to get done.
And I'm here to get that worked on.
I'm looking -- the Libor information that's just been made public.
Investigation.
You think look we've gotten is the New York fed and time.
-- -- And he took three years distance.
These are very complex cases the CFTC dedicated staff started looking at it as you said in 2008.
We had to -- millions of documents and hundreds of hours of tapes.
Working with international regulators in the Justice Department's I'm very proud of what the staff to CFTC -- it would put together.
But yes it took four years and duty to -- that -- -- well.
We reached out to other law enforcement agencies like the Justice Department like the financial services authority we work with law enforcement agencies.
And again I'm very proud of what CFTC's stance -- here.
