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Commodities Futures Trading Commission Civil Monetary Penalty

The United States Commodities Futures Trading Commission was created in 1974 to regulate commodity futures and option markets. The Commission’s mission is to protect market participants and the public from... more +
The United States Commodities Futures Trading Commission was created in 1974 to regulate commodity futures and option markets. The Commission’s mission is to protect market participants and the public from fraud, abuse, and systemic risk associated with derivatives subject to the Commodities Exchange Act. In 2010, as a result of the Frank-Dodd Wall Street Reform and Consumer Protection, the Commission’s role was expanded to include drafting rules for regulating the swaps marketplace. less -
Davis Wright Tremaine LLP

Navigating the Financial Markets Regulatory Landscape: Takeaways After the TOTSA Settlement

In the dynamic world of financial regulation, the Commodity Futures Trading Commission (CFTC) has been actively addressing market manipulation with enforcement actions to ensure market integrity. The CFTC's recent settlement...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

CFTC Fines Commodities Trader $55 Million in First-Ever Whistleblower Rule Enforcement Action

The Commodity Futures Trading Commission (CFTC) has joined the list of federal agencies targeting employment nondisclosure agreements and other restrictive covenants that allegedly restrict employees from making reports to...more

Mintz - Securities Litigation Viewpoints

Supreme Court in Jarkesy Limits the SEC’s Powers to Use In-House Administrative Courts

On June 27, the Supreme Court issued its decision in the closely-watched SEC v. Jarkesy, holding that the SEC could no longer seek civil monetary penalties for fraud in its in-house courts consistent with the Seventh...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - April 2024

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

BCLP

Driving Force - More fines, more admissions, more monitors: what is the future of CFTC enforcement?

BCLP on

In a recent speech given at New York University’s School of Law, the Commodity Futures Trading Commission’s (CFTC’s) Director of Enforcement, Ian McGinley, unveiled a new advisory concerning penalties, monitors and admissions...more

WilmerHale

CFTC Anti-Fraud and Anti-Manipulation Authority: A Focus on Intermediaries

WilmerHale on

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), significantly expanded the Commodity Futures Trading Commission’s (“CFTC” or “Commission”) anti-fraud and anti-manipulation statutory...more

Cadwalader, Wickersham & Taft LLP

Insider Trading in Physical Commodities

On December 14, 2023, the Commodity Futures Trading Commission (“CFTC”) and Department of Justice (“DOJ”) Fraud Section announced the settlement of insider trading fraud charges and Foreign Corrupt Practices Act (“FCPA”)...more

BCLP

First “Insider Trading” Case Goes From Bad to Worse for CFTC

BCLP on

On January 8, 2024, the U.S. Court of Appeals for the Fifth Circuit reversed a jury’s verdict in a Commodity Futures Trading Commission (“CFTC”) enforcement action against EOX Holdings, L.L.C. (“EOX”) and its employee, Andrew...more

Davis Wright Tremaine LLP

CFTC Division of Enforcement, FY 2023: A Year in Review and Looking Ahead

On November 7, 2023, the Division of Enforcement ("Division") of the United States Commodity Futures Trading Commission ("CFTC") released its annual report of the results of its enforcement efforts, announcing that it had...more

Vinson & Elkins LLP

Supreme Court Oral Argument in Jarkesy Laser-Focused on Seventh Amendment Trial Right in Agency Civil Penalty Enforcement Actions

Vinson & Elkins LLP on

On November 29, 2023, the Supreme Court heard oral argument in a critically important administrative law case, Securities and Exchange Commission v. Jarkesy, No. 22-859. This case carries enormous potential consequences for...more

Sheppard Mullin Richter & Hampton LLP

Binance’s Paper Compliance Program Crumples Under OFAC Scrutiny in Largest OFAC Settlement in History

On November 21, 2023, the U.S. Office of Foreign Assets Control (OFAC) announced its largest settlement in history with the virtual currency exchange Binance. This almost-billion dollar settlement is a part of a larger...more

Jenner & Block

Client Alert: CFTC Updates Enforcement Guidance Regarding Monetary Penalties, Third-Party Monitorships, and Admissions of...

Jenner & Block on

In October 2023, the Division of Enforcement of the Commodity Futures Trading Commission (“CFTC” or the “Commission”) issued an Enforcement Advisory clarifying the Commission’s approach to negotiated resolutions of...more

BCLP

The CFTC is Not Your Friend: More Penalties, More Monitors and More Admissions

BCLP on

New guidance from the Commodity Futures Trading Commission[i] may significantly change the calculus for firms considering whether to settle an enforcement action. Requiring admission of wrongdoing in a greater number of...more

Paul Hastings LLP

The CFTC Announces New Enforcement Advisory – Penalties, Monitors, and Admissions

Paul Hastings LLP on

On October 17, 2023, the Commodity Futures Trading Commission’s (“CFTC” or “Commission”) Division of Enforcement (“DOE”) released its latest enforcement advisory, providing guidance to CFTC staff on resolution of an...more

Jones Day

Minor Revolution at the CFTC: New Enforcement Guidance Will Sharpen Settlement Terms

Jones Day on

The Background: The CFTC Division of Enforcement ("Enforcement") recently issued an advisory on new enforcement policies that increase the agency's focus on corporate accountability through increasing civil penalties,...more

Morgan Lewis

CFTC Releases New Blueprint for Enforcement: Higher Penalties, Monitors, Admissions

Morgan Lewis on

The Division of Enforcement of the US Commodity Futures Trading Commission (CFTC or Commission) published on October 17, 2023 an advisory to assist its staff in recommending future enforcement resolutions to the Commission...more

Katten Muchin Rosenman LLP

New CFTC Enforcement Advisory on Penalties, Monitors and Admissions Portends Increased Compliance Costs for Industry

It is no longer just lions, tigers and bears Dorothy needs to be fearful of, but if she is a potential defendant in a CFTC enforcement action; she must also now worry about potential higher fines (especially if she is...more

BakerHostetler

SEC and CFTC Show No Signs of Slowing Down Enforcement Actions for Financial Firms’ Use of Off-Channel Communications

BakerHostetler on

The settlements announced by the SEC and CFTC on Monday are a continuation of the regulators’ focus on off-channel communications by employees of registered entities....more

Davis Wright Tremaine LLP

Swaps Enforcement Update: Business Conduct Standards for Swap Dealers and Major Swap Participants

While the initial swap dealer enforcement actions brought by the Commodity Futures Trading Commission (CFTC) focused on swap data reporting failures, recent enforcement efforts have focused on compliance with business conduct...more

Proskauer - Blockchain and the Law

CFTC Enforcement Highlights Potential Compliance Risks to Crypto Exchanges for Derivatives Trading

Binance is the latest major crypto industry player to be sued by a U.S. regulator. On March 27, 2023, the CFTC announced that it had filed a civil enforcement action against Binance Holdings Limited (and related legal...more

Seward & Kissel LLP

First Coinbase, Now Binance: Big Fish in Choppy Waters

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Last week, the SEC took dead aim at Coinbase. This week, the CFTC did the same to Binance and its ubiquitous boss popularly known as CZ. On March 27, 2023, the Commodity Futures Trading Commission (“CFTC”) filed a civil...more

Goodwin

SEC and CFTC Send Powerful Message With $2 Billion in Fines Related to Social Media and Text Recordkeeping Lapses

Goodwin on

​​​​​​​The SEC and CFTC recently charged 11 large financial institutions and their affiliates for failing to collect, monitor, and preserve communications over WhatsApp and other messaging services. These settlements follow a...more

Robinson & Cole LLP

With $1.1 Billion Penalty Deal, SEC Joins DOJ in Firing Warning Shot at Financial Services Industry About Outdated Employee...

Robinson & Cole LLP on

Last week, the United States Securities and Exchange Commission (SEC) fined 16 Wall Street firms a total of $1.1 billion for recordkeeping violations based on the failure to maintain employees’ electronic communications, such...more

Cadwalader, Wickersham & Taft LLP

Eleven Financial Institutions Pay $700 Million to Settle Recordkeeping and Supervision Violations Related to Off-Channel Business...

On September 27, the Commodity Futures Trading Commission (“CFTC”) issued orders to settle charges against 11 major U.S. and international financial institutions and their swap dealer (“SD”) and futures commission merchant...more

Eversheds Sutherland (US) LLP

Enforcement appears as messages disappear part II: Steep penalties imposed in personal messaging cases  

On September 27, 2022, 15 broker-dealers and one investment adviser agreed to pay more than $1.8 billion in total civil penalties to the US Securities and Exchange Commission (SEC), and, for those same companies or affiliates...more

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