Power of CFTC to Issue Subpoenas Extraterritorially Is Expanded

On November 10, 1986, President Reagan signed into law HR 4613 which gives expanded power under the U.S. Commodity Exchange Act to the U.S. Commodity Futures Trading Commission (CFTC) to serve subpoenas extraterritorially.  The new law provides that the CFTC can issue investigatory and other administrative subpoenas on persons outside the territorial U.S. for fraud or market-manipulation investigations.