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
Federal Court in Chicago Orders U.K. Resident Navinder Singh Sarao to Pay More than $38 Million in Monetary Sanctions for Price Manipulation and Spoofing
Federal Court Orders IB Capital FX, LLC, Michel Geurkink, and Emad Echadi to Pay More than $35 Million in Restitution and a Civil Penalty for Soliciting at Least $50 Million from Members of the Public to Trade Forex, without Being Registered with the CFTC
CFTC Submits Proposed Consent Order to Federal Court in Chicago that Would Resolve the CFTC’s Price Manipulation and Spoofing Action against U.K. Resident Navinder Singh Sarao
Federal Court Orders Scott Platto and His Company The Yorkshire Group, Inc. to Pay More Than $1.56 Million for Engaging in Illegal, Off-Exchange Precious Metals Transactions
CFTC Charges Utah Resident Kimball Parker and Florida Resident Timothy Baggett with Fraud and Other Violations in Connection with Offering and Selling a Futures Trading System
CFTC Charges Jody Dupont of South Carolina and His Company, Open Range Trading LLC, with Commodity Trading Advisor Fraud
CFTC Charges California Residents Joseph Dufresne, Megan Renkow, and Their Company, United Business Servicing, Inc., Doing Business as Schooloftrade.Com, with Fraudulently Marketing Commodity Futures Trading Strategies and Systems
CFTC Charges New Jersey Residents Alcibiades Cifuentes and Jennifer Wee Cifuentes, and Cifuentes Fund Management, LLC, with Fraud and Misappropriation
CFTC Orders Angus Partners LLC D/B/A Angus Energy to Pay a $250,000 Civil Penalty for Acting as an Unregistered Commodity Trading Advisor and for Disclosure Violations
CFTC Orders Aden Rusfeldt to Pay in Total More than $3.2 Million in Restitution and a Civil Monetary Penalty for Fraudulent Omissions in Connection with His Operation of ETF Trend Trading