On May 19, 2026, the CFTC’s Division of Enforcement (Division) announced a new policy (Policy) regarding cooperation on the part of individuals and organizations that might face an enforcement action. The Policy aims to clarify the Division’s stance on cooperation, taking a more consistent approach and fostering greater understanding of the potential consequences of self-reporting, remediation, restitution and/or disgorgement. It sets forth conditions which, if met in full, will – in the absence of aggravating factors – result in the Division not recommending that an enforcement action be pursued. The Policy supersedes the CFTC’s February 2025 Enforcement Advisory. This first article in a two-part series summarizes the Policy and its cooperation safe harbors. The second article will compare it to the superseded February 2025 Enforcement Advisory and other agencies’ cooperation policies; assess its potential impact; and provide practical takeaways. For analysis of the February 2025 Enforcement Advisory, see “CFTC Advisory on Self-Reporting, Cooperation and Remediation Overhauls Years of Guidance” (Mar. 27, 2025).