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
Morgan Stanley Capital Group, Inc. to Pay a $14 Million Civil Penalty to Settle CFTC Charges that the Company Concealed a Large Block Crude Oil Trade
CFTC Charges Carmine Garofalo with Illegal Trading on a U.S. Exchange
San Diego Gas & Electric Company Agrees to Pay a Civil Penalty to Settle CFTC Charge that it Engaged in Wash Sales in the Natural Gas Futures Markets
CFTC Files Enforcement Action against Singapore National Kuen Cheol Song for Engaging in an Illegal Trading Scheme
CFTC Charges Florida Resident Claudio Aliaga and His Company, CMA Capital Management, LLC, with Operating a Foreign Currency Ponzi Scheme
Charleston, South Carolina-based Defendants Ordered to Pay More than $3.9 Million in Restitution and Civil Penalties to Resolve 2008 CFTC Anti-Fraud Action
Charlottesville, Virginia-based Defendants Ordered to Pay More than $4.6 Million in Disgorgement and Civil Penalties to Settle 2009 CFTC Anti-Fraud Action
CFTC Charges Ohio-based Defendants Enrique Villalba, Jr., and Money Market Alternative, LP, with Operating a Multi-Million Dollar Futures Ponzi Scheme
Georgia-Based Hedge Fund Lake Dow and its Principal, Ty Edwards, Ordered to Pay More than $4 million in Restitution and Penalties in CFTC Commodity Pool Fraud Action
Federal Court Imposes $260,000 in Civil Penalties against Austin, Texas Resident Steven Leigh Shakespeare and His Company, Guardian Futures, Inc., Both Charged with Fraud and Unauthorized Trading