Enforcement Actions

The CFTC Division of Enforcement investigates and prosecutes alleged violations of the Commodity Exchange Act and Commission regulations. The CFTC takes enforcement actions against individuals and firms registered with the Commission, those who are engaged in commodity futures and option trading on designated domestic exchanges, and those who improperly market futures and options contracts.

View Dispositions
View Opinions and Adjudicatory Orders

Enforcement Advisory: Updated Advisory on Self Reporting and Full Cooperation

Enforcement Advisory: Cooperation Factors in Enforcement Division Sanction Recommendations for Individuals

Enforcement Advisory: Cooperation Factors in Enforcement Division Sanction Recommendations for Companies

Enforcement Advisory: Advisory on Self Reporting and Cooperation for CEA Violations Involving Foreign Corrupt Practices

See CFTC Press Release 7518-17 (January 19, 2017) and
Speech of James McDonald, Director of the Division of Enforcement Commodity Futures Trading Commission Regarding Perspectives on Enforcement: Self-Reporting and Cooperation at the CFTC (September 25, 2017)

Date ENFORCEMENT ACTIONS
Federal Court in Illinois Orders Chicago-Based Trader Bradley Scott Schiller to Pay more than $7.5 Million in Restitution and a Civil Monetary Penalty for a Multi-Million Dollar Commodity Futures Fraud
CFTC Obtains Default Judgment against Christopher Smithers of Florida for Fraud in Connection with Futures Contracts, Fraud in Connection with Contracts of Sale of a Commodity in Interstate Commerce, and Violations of a U.S. District Court’s Prior Orders
CFTC Charges Florida-Based AmeriFirst Management LLC and Its Owners, John P. D’Onofrio, George E. Sarafianos, and Scott D. Piccininni, in Multi-Million Dollar Fraudulent Precious Metals Scheme
CFTC Orders William J. Hionas and his Florida Firms, Pan American Metals of Miami and Pan American Metals of Miami Beach, to Pay Approximately $4.7 Million in Restitution and a Monetary Penalty for Fraudulent Off-Exchange Transactions in Precious Metals
Federal Court in Illinois Orders Michael Peskin to Pay More Than $480,000 and Imposes Other Sanctions to Settle Charges that Peskin Violated A Permanent Trading Ban
CFTC Orders Panther Energy Trading LLC and its Principal Michael J. Coscia to Pay $2.8 Million and Bans Them from Trading for One Year, for Spoofing in Numerous Commodity Futures Contracts
CFTC Obtains Default Judgment and Permanent Injunction against California Resident Michael J. Leighton for Defrauding Commodity Pool Participants
CFTC Charges Texas-based RFF GP, LLC, KGW Capital Management, LLC, and Kevin G. White with Commodity Pool Fraud
CFTC Seeks to Revoke the Registrations of Joshua Wallace and his Company System Capital, LLC Based on Court’s Permanent Injunction Order Prohibiting Them from Committing Further Fraud and on Wallace’s Conviction for Criminal Commodities Fraud
Federal Court in New York Orders Defendant Laurence Dodge, Principal of Madison Dean, Inc., to Pay nearly $400,000 to Settle Forex Fraud Charges