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
CFTC FINDS THAT JAMES L. CONNELLY, A FLOOR BROKER AT THE CHICAGO MERCANTILE EXCHANGE, IS SUBJECT TO STATUTORY DISQUALIFICATION AND ISSUES CONSENT ORDER RESTRICTING CONNELLY'S REGISTRATION
FLORIDA FEDERAL COURT ENTERS PERMANENT INJUNCTION AGAINST MICHAEL INDIHAR, COMPUTER WAREHOUSE, INC. AND AUTOMATED TRADING SYSTEMS INC., IN CFTC ANTI-FRAUD ACTION FILED IN 1996; CFTC Alleged that the Defendants Cheated and Defrauded Florida Investors in a Commodity Pool, and Converted Customer Funds to Personal Use, Among Other Violations of Federal Commodity Law
CFTC FILES AND SETTLES SIX-COUNT INJUNCTIVE ACTION AGAINST MORRIS J. BENUN, CHARGING THAT HE COMMITTED FRAUD AND CONVERTED FUNDS WHILE OPERATING TWO COMMODITY POOLS; Benun Ordered To Pay Over $1 Million In Restitution To Pool Participants and Is Permanently Barred From the Commodities Industry By Consent Permanent Injunction
CFTC FILES CIVIL FRAUD COMPLAINT IN FLORIDA FEDERAL COURT AGAINST INTRODUCING BROKER R.J. FITZGERALD & CO., INC., RAYMOND AND LEIZA FITZGERALD, AL CORINGRATO, GREG BURNETT, AND CHUCK KOWALSKI; CFTC Action Charges that the Defendants Made False Representations and Engaged in Fraudulent Acts and Practices, Including Sales Solicitation Fraud and Account Churning
Merrill Lynch International, Inc. and Merrill Lynch Pierce Fenner & Smith (Brokers & Dealers), Ltd. Pay $15 Million to Settle Charges of Aiding and Abetting Manipulation of the Copper Market, 
CFTC Accepts Settlement Offer of Selwyn "Sy" Gaiber; CFTC Settlement Order Finds that Gaiber Acted as an Unregistered CTA and Failed to Deliver Disclosure Documents and to Disclose His Past Performance Record,
CFTC Files Complaint Against Kent C. Calhoun of Hunt, Texas, Alleging That He Committed Fraud in Using the CFTC's Name to Solicit Customers to Purchase His Commodity Trading Systems and Attend his Commodity Trading Seminars; CFTC Seeks Injunctive and Other Equitable Relief, Including Disgorgement of Ill-Gotten Gains, Restitution to Defrauded Customers, and Civil Monetary Penalties
CFTC Institutes Administrative Proceedings Against and Accepts Offer of Settlement from Ross R. Godres of Lafayette, Colorado; CFTC Finds that Godres Defrauded Investors By Concealing Losses Resulting From the Trading of Precious Metal Futures Contracts on Behalf of a Commodity Pool, and Orders Restitution to Defrauded Investors, Among Other Sanctions
North Carolina Court Issues Preliminary Injunction in CFTC Action Charging Donald Trivette With Defrauding Investors and Misappropriating Investor Funds
georgia Court Orders Payment of Over $11.5 Million and Permanent Injunction In Default Order Against Estate of Donald B. Chancey, Southeastern Venture Partners Group, in Commodity Pool Fraud Case