The federal government was shut down from December 22, 2018, through January 25, 2019. SEC and CFTC enforcement activity fell off sharply during that period. In January of 2019, the SEC announced four enforcement actions, compared to 10 in January of last year. On the administrative side, the SEC announced two enforcement actions this month, compared to 23 in January of last year. The CFTC issued one enforcement-related press release in January, compared to 13 in January of last year.