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

<p>FLORIDA DISTRICT COURT ISSUES DEFAULT ORDERS OF PERMANENT INJUNCTION AGAINST INDIVIDUALS AND CORPORATIONS PROHIBITING THEM FROM CONTINUING TO OPERATE A FRAUDULENT PRECIOUS METALS SCHEME; Court’s Order Also Enjoins Them From Soliciting or Accepting Customers For Commodity Futures or Options Trading and Bars Them From Seeking Registration or Acting In Any Capacity Requiring Registration with the CFTC; Court Will Determine The Amount of Civil Monetary Penalties, Restitution and Disgorgement To Be Imposed, 
CFTC ACCEPTS OFFER OF SETTLEMENT FROM FORMER REGISTRANT TIMOTHY M. BENGSON IN CONNECTION WITH FRAUDULENT ALLOCATION SCHEME; CFTC Order Imposes A Permanent Trading Ban, Requires Him to Comply with Undertaking Never To Seek Registration And Requires Payment of A Civil Monetary Penalty of Up To $110,000, Pursuant To Payment Plan
CFTC FILES ADMINISTRATIVE COMPLAINT AGAINST CTS FINANCIAL PUBLISHING, DEARBORN FINANCIAL PUBLISHING, DENNIS BLITZ, AND NICK VAN NICE ALLEGING FRAUD; Complaint Alleges that Respondents Fraudulently Marketed Commodity Futures and Options Trading-Related Products and that CTS Operated and Maintained an Internet Site that Promoted a Product Called <i>Swing Trader,</i> in Violation of Federal Commodity Law
CFTC FILES ENFORCEMENT ACTIONS CHARGING FRAUDULENT SOLICITATION OF CUSTOMERS AGAINST TWO FLORIDA INTRODUCING BROKERS, MATRIX TRADING GROUP, INC. AND FIRST FINANCIAL TRADING, INC.; CFTC Also Charges Fraud Against Five Current and Former Principals and Employees of the Companies -- Christopher Smithers and David Wedeen of Matrix, and Corey Johnson, Scott Dewitte and Thomas Glover, II, of First Financial
CFTC FILES ENFORCEMENT ACTION ALLEGING THE FRAUDULENT PROMOTION OF COMMODITY TRADING METHODOLOGY OVER THE INTERNET; CFTC Alleges that Rabb Sabin and Art Smith, Both of California, Fraudulently Misrepresented the Profitability and Performance of Their Internet Website’s Trading Methodology and Their Backgrounds and Trading Histories
TENNESSEE DISTRICT COURT ENTERS CONSENT ORDER OF PERMANENT INJUNCTION AGAINST EDWIN JAY SHELDON AND APPLIED CAPITAL MANAGEMENT, LLC (ACM) IN COMMODITY POOL FRAUD CASE; The Consent Order Requires Sheldon and ACM to Make Full Restitution to Investors of Up to Approximately $334,000
CFTC ACCEPTS SETTLEMENT OFFER OF FORMER REFCO FLOOR BROKER LISA BUDICAK IN CONNECTION WITH ORDER-TAKING AND RECORDKEEPING VIOLATIONS; CFTC Orders Budicak to Pay A $20,000 Civil Monetary Penalty And Conditions Any Future Registration For the Next Four Years
CFTC FILES AND SETTLES ADMINISTRATIVE ENFORCEMENT ACTION AGAINST MARTIN K. ROGERS FOR TRADING WITHOUT A SPONSOR IN VIOLATION OF A COMMISSION ORDER; Rogers' Registration Is Suspended for 30 Days and Restricted for One Year
ILLINOIS COURT ENTERS CONSENT ORDERS OF PERMANENT INJUNCTION AGAINST RANDALL WILLIAMS AND TERRY G. WIGTON IN CASE INVOLVING A FRAUDULENT COMMODITY POOL SCHEME; Williams and Wigton Are Barred From the Commodities Industry and Ordered to Pay Restitution and Disgorgement Amounts Totaling More than $1.5 Million
CFTC FILES AND SETTLES ENFORCEMENT ACTION AGAINST PEREGRINE FINANCIAL GROUP, INC., IN CONNECTION WITH FINANCIAL VIOLATIONS; CFTC Orders Peregrine To Pay a $90,000 Civil Monetary Penalty and Comply With Various Undertakings