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
Illinois Federal Court Requires Canadian Commodity Pool Operator Kevin J. Steele To Pay Over $7 Million In Restitution To Defrauded Investors In CFTC Enforcement Action
CFTC Orders Shahrokh Nikkhah to Pay a $200,000 Civil Monetary Penalty in Fraudulent Trade Allocation Case
CFTC FILES FRAUD ACTION AGAINST HEDGE FUND OPERATED BY LAKE DOW CAPITAL; Federal Court Freezes Assets of Hedge Fund and its Operator
U.S. DISTRICT COURT FREEZES ASSETS OF SOUTH FLORIDA FOREIGN CURRENCY FIRM MADISON FOREX INTERNATIONAL BASED ON FRAUD ALLEGATIONS BY U.S. COMMODITY FUTURES TRADING COMMISSION
CFTC OBTAINS FEDERAL COURT ORDER FREEZING ASSETS OF BULGARIAN WEBSITE OWNER IN FOREIGN CURRENCY FRAUD ACTION; CFTC Charges Marin Illiev Yanev with Fraudulent Solicitation of Customers Through His Websites
CFTC CHARGES FLORIDA BUSINESS INTERNATIONAL CURRENCY EXCHANGE, INC. AND ITS PRINCIPALS WITH $900,000 FOREIGN CURRENCY OPTIONS SCAM; CFTC Alleges that International Currency Exchange, Inc., Michael Cottec, John Aucella, and Eugene Aucella Fraudulently Solicited Customers; Worldwide Clearing, LLC Also Charged
CFTC CHARGES NORTH CAROLINA RESIDENT JOHN POOLE WITH FRAUD; CFTC Alleges that Poole, as a Commodity Trading Advisor, Made False Representations on His Website Regarding the Profitability of His Commodity Trading System
CFTC BRINGS FRAUD CHARGES AGAINST SOUTH AFRICAN RESIDENT JAMES DE WET WHO OPERATES COMPANY TEAM FOREX INTERNATIONAL AND WEBSITE; CFTC Alleges That de Wet, Doing Business As Team Forex International, Misrepresented His Trading Track Record
CFTC CHARGES TWO GEORGIA CORPORATIONS AND FIVE OTHERS IN $4.6 MILLION COMMODITY OPTIONS FRAUD SCHEME; CFTC Complaint Names American Derivatives Corp., Brokerage Management Corp., Layne David Gerstel, Devereux Decatur Booth and David N. Mittler as Participants In Alleged Fraudulent Solicitations Of More Than 274 Customers; Futures Commission Merchants National Commodities Corp., Inc. and International Commodity Clearing, LLP Also Charged; Court Enters Asset Freeze Order
CFTC ASSESSES PENALTIES AGAINST IRISH COMPANY TRADE EXCHANGE NETWORK LIMITED FOR OFFERING ILLEGAL COMMODITY OPTION CONTRACTS; Trade Exchange Network Cooperates with Federal Investigation and Agrees to Pay Civil Penalty of $150,000