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 Charges Ireland-based “Prediction Market” Proprietors Intrade and TEN with Violating the CFTC’s Off-Exchange Options Trading Ban and Filing False Forms with the CFTC
CFTC Charges North Carolina Resident Michael Anthony Jenkins and his Company, Harbor Light Asset Management, LLC, with Solicitation Fraud, Misappropriation, and Embezzlement in Ponzi Scheme
Cantor Fitzgerald Sanctioned $700,000 for Allowing Customer Funds to Become Under-Segregated
CFTC Orders Eagle Market Makers Inc. to Pay over $223,000 in Penalties and Disgorgement to Settle Charges of Violating Corn Futures Speculative Position Limits and Failing to Supervise Traders
CFTC Charges Matthew Marshall Taylor with Fraud for Fabricating and Concealing Trades from His Employer and Obstructing Their Discovery
Federal Court in Idaho Orders Brad Lee Demuzio and Demuzio Capital Management, LLC, to Pay over $3 Million in Connection with CFTC Commodity Pool Forex Fraud Action
CFTC Orders Illinois Resident Joshua T.J. Russo to Pay More than $1.8 Million in Restitution and Penalties for Futures and Options Fraud and Unauthorized Trading
CFTC Obtains Federal Court Order against Nicholas Cosmo for Engaging in Unauthorized Futures Trading that Resulted in Tens of Millions of Dollars in Investor Losses
CFTC Orders San Gabriel, California Resident David Kaup and His Companies to Pay over $1.89 Million in Restitution and Penalties to Settle Forex Fraud and Misappropriation Charges
CFTC Charges Floridian Christopher Smithers with Fraud in Connection with Commodity-Related Activities and Violations of a Federal Court’s Prior Orders