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
Florida Federal Court Issues Preliminary Injunctions in CFTC Anti-Fraud Action against Florida Commodity Pool Operator Phoenix Diversified Investment Corporation, Inc., and its Principal Michael A. Meisner
Michigan-Based Aurifex Commodities Research Co. Ordered to Pay a Total of $150,000 in Restitution and Civil Monetary Penalties to Resolve CFTC Charges of “Private Hedge Fund” Fraud
Utah-Based 4NExchange and Two Individuals Ordered to Pay $720,000 in Penalties to Resolve CFTC Charges of Fraud and Misappropriation in Foreign Currency Scam
CFTC Charges Former Energy Trader David P. Lee with Fraud for Mis-Marking Bank of Montreal’s Natural Gas Options Book to Exaggerate Trading Profitability; Kevin Cassidy and Others Charged with Assisting Lee in the Fraud
Former Enserco Energy Trader Matthew Reed to Pay $475,000 to Settle CFTC Charges of False Reporting and Attempted Manipulation of Natural Gas Prices
Western Virginia Man Found Guilty of 37 Counts Related to Defrauding Commodity Pool Investors out of Millions
California Resident Jinsup Choi Ordered to Pay More than $10 Million in Restitution and a $1 Million Monetary Penalty for Defrauding Investors in a “Ponzi” Scheme Involving Commodity Futures Contracts
CFTC Sanctions Former NYMEX Clerk Brian Keane $90,000 for Fraudulent Trade Practice Scheme
Jacksonville Resident Stephanie Ann Gallitano and Her Fort Lauderdale-Based Companies Ordered to Pay More than $5 Million in Restitution and Civil Monetary Penalties in CFTC Forex Anti-Fraud Action
CFTC’s 2008 Fiscal Year Enforcement Roundup: Agency Files 40 Actions, Obtains Record Amount in Penalties and Fines, Discloses Crude Oil Investigation, Forms Forex Task Force