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
07/22/2013	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 Order: Panther Energy Trading LLC and Michael J. Coscia Concurring Statement of Commissioner Bart Chilton in the Matter of Panther Ener… FCA Press Release CME Regulatory Actions re Panther Energy Trading CME Regulatory Actions re Michael Coscia
07/12/2013	CFTC Obtains Default Judgment and Permanent Injunction against California Resident Michael J. Leighton for Defrauding Commodity Pool Participants Order for Default Judgment: Michael J. Leighton
07/12/2013	CFTC Charges Texas-based RFF GP, LLC, KGW Capital Management, LLC, and Kevin G. White with Commodity Pool Fraud Complaint: RFF GP, LLC et al. Order: RFF GP, LLC et al.
07/11/2013	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 Notice of Intent: System Capital, LLC and Joshua Wallace
07/01/2013	Federal Court in New York Orders Defendant Laurence Dodge, Principal of Madison Dean, Inc., to Pay nearly $400,000 to Settle Forex Fraud Charges Order: Laurence Dodge
06/27/2013	CFTC Charges MF Global Inc., MF Global Holdings Ltd., Former CEO Jon S. Corzine, and Former Employee Edith O’Brien for MF Global’s Unlawful Misuse of Nearly One Billion Dollars of Customer Funds and Related Violations Complaint: MF Global Inc., et al Order: MF Global Inc.
06/26/2013	Federal Court in Colorado Orders Michael Gale to Pay More than $1.2 Million to Settle Fraud Charges in CFTC Enforcement Action Order: Michael Gale
06/25/2013	Federal Court Orders Alpha Trade Group S.A. and its Employees and Agents to Pay Combined Restitution and Penalties of $5.779 Million for Defrauding Pool Participants Amended Order: Alpha Trade Group, S.A. et al.
06/25/2013	Federal Court Orders Chicago Resident Christopher Varlesi to Pay over $1.3 Million to Settle Ponzi Scheme Fraud and Misappropriation Action Order: Christopher Varlesi
06/25/2013	CFTC Charges North Carolina Resident C. David Wright with Commodity Pool Fraud Complaint: CFTC v. Carl David Wright

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