With its staff reduced to 30 from 680 by the government shutdown, the Commodity Futures Trading Commission is “really not overseeing the markets now,” CFTC Chairman Gary Gensler said today.

But Gensler warned market participants against seeing this as an opportunity to engage in fraud without worry of being caught because the agency is still collecting data.

After the shutdown, the agency will be reviewing market conduct during the shutdown for evidence of wrongdoing, he said.

Gensler, who has announced will be leaving his post when his term expires in December, said the Obama Administration has asked him to stay.