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Commodities Futures Trading Commission Criminal Prosecution

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 -
Jenner & Block

Client Alert: DOJ Announces New Whistleblower Rewards Program and Enhanced Focus on AI-Related Risks

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Continuing to prioritize corporate criminal enforcement, the Department of Justice (DOJ) announced two new steps it is taking to identify potential corporate misconduct and evaluate companies’ compliance programs. Deputy...more

Jones Day

DOJ Announces New Whistleblower Program and Enforcement Initiatives

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The Development: On March 7, 2024, Deputy Attorney General ("DAG") Lisa Monaco discussed updates to the Department of Justice's ("DOJ" or "Department") corporate criminal enforcement policies and announced a pilot program...more

Womble Bond Dickinson

DOJ Announces New Policies on AI Compliance and a Pilot Whistleblower Rewards Program

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Last week, senior Department of Justice leadership announced new policies and programs intended to further its “carrot and sticks” approach to corporate criminal enforcement, which has borne fruit with twice as many voluntary...more

Faegre Drinker Biddle & Reath LLP

DOJ Becomes Latest Agency to Offer Financial Incentives for Whistleblowers

On March 7, 2024, Deputy Attorney General Lisa Monaco announced that the U.S. Department of Justice (DOJ) is creating a program that will offer financial rewards to whistleblowers who bring the DOJ information concerning...more

BakerHostetler

DOJ to Corporations - “Knock on Our Door Before We Knock on Yours”

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At last week’s ABA National White Collar Crime Institute, the leadership of the Department of Justice (the DOJ or the Department), including Attorney General Merrick Garland and Deputy Attorney General Lisa Monaco, made clear...more

WilmerHale

DOJ Announces Pilot Whistleblower Rewards Program and Increased AI Enforcement

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On March 7, 2024, Deputy Attorney General Lisa Monaco announced Department of Justice (DOJ) initiatives to incentivize whistleblowers with payouts from civil or criminal forfeitures and to integrate artificial intelligence...more

The Volkov Law Group

DOJ Reaches Groundbreaking Criminal Settlement with Cryptocurrency Exchange Binance and CEO Changpeng Zhao (Part I of III)

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On November 21, 2023, The U.S. Department of Justice (“DOJ”) announced settlement agreements with Binance Holdings Limited (“Binance”), the world’s largest cryptocurrency exchange, and Changpeng Zhao (affectionally known as...more

Troutman Pepper

Understanding the DOJ’s Groundbreaking $4.3B Settlement with Foreign Cryptocurrency Exchange Binance.com

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On November 21, the U.S. Department of Justice (DOJ) unsealed its criminal indictment against Binance.com (Binance), the world’s largest cryptocurrency exchange, and its CEO, Changpeng “CZ” Zhao (CZ). The indictment against...more

BakerHostetler

CBDC Initiatives Advance in Colombia, Hong Kong; DOJ Charges Defendants in Mt. Gox Hack, BTC-e; CFTC Wins Ooki DAO Case; Crypto...

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CBDC Initiatives Advance in Colombia and Hong Kong - According to a recent press release, a major U.S. fintech company and “leader in enterprise blockchain and crypto solutions” has announced a collaboration with Colombia’s...more

BakerHostetler

Fintech Firms Launch New Products; Crypto Guidance Published by CFTC, EBA, UAE; OFAC Adds Public Keys to SDN List; CFTC, NY AG...

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Crypto Firms Announce New Product Launches in Custody, Stablecoins, Wallets - According to a recent press release, Prometheum Capital has received the first-ever approval from the Financial Industry Regulation Authority...more

BakerHostetler

New Crypto Payment and Web3 Products Launch; UK Seeks Input on DeFi Taxation; OFAC Fines Crypto Exchange; SEC, DOJ, CFTC Continue...

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Multiple Financial Services Firms Announce New Crypto Products - A major U.S. financial services firm recently launched its Crypto Credential product, “a set of common standards and infrastructure that will help verify...more

Cadwalader, Wickersham & Taft LLP

CFTC Enforcement − Aiding and Abetting Liability

Churchill is credited with saying “Never let a good crisis go to waste” at the end of WWII in reference to lessons learned in rebuilding the post-war world. The rolling collapse in crypto and digital assets’ markets, and...more

BakerHostetler

DOJ, CFTC and SEC Bring Separate Actions for the Same Conduct: Alleged Digital Asset Manipulation and Fraud Scheme on Mango...

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Mango Markets is a decentralized cryptocurrency exchange that allows users to purchase and borrow cryptocurrencies and cryptocurrency-related financial products. Mango Markets is run by the Mango Decentralized Autonomous...more

BakerHostetler

Data Published on Crypto Exchange Volume, NFT Royalties, Crypto Crime; Crypto Adoption Continues; DOJ and CFTC Bring Multiple...

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New Data Published on 2022 Crypto Exchange Trading Volume, NFT Royalties - According to recent reports, Binance, currently the world’s largest cryptocurrency exchange by trading volume, controlled 92 percent of global...more

The Volkov Law Group

The SEC and CFTC Bring Civil Charges against FTX, Alameda, and SBF (III of IV)

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In conjunction with the DOJ’s criminal indictment, the SEC brought civil charges against SBF.  The SEC charged SBF with orchestrating a scheme to defraud equity investors in the FTX exchange (FTX Trading Ltd.).  The SEC...more

Troutman Pepper

Prosecutors and Regulators Announce Criminal Charges and Civil Enforcement Actions Against Sam Bankman-Fried Following FTX...

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On December 13, federal prosecutors announced criminal fraud and money laundering charges against Sam Bankman-Fried (SBF) in the wake of the collapse of FTX Trading Ltd. (FTX), the crypto asset trading platform that SBF...more

Cadwalader, Wickersham & Taft LLP

DOJ, SEC and CFTC Announce Parallel Criminal and Civil Charges Against Sam Bankman-Fried, FTX Trading and Alameda Research

On December 13, the U.S. Attorney’s Office for the Southern District of New York (the “U.S. Attorney’s Office”), the U.S. Securities and Exchange Commission (the “SEC”), and the U.S. Commodity Futures Trading Commission (the...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

Tucker Arensberg, P.C.

CFTC Commissioner Announces Proposal That Could Require More Defendants To Admit Wrongdoing In Order To Settle

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​​​​​​​As part of its regulatory authority over derivatives markets, the Commodity Futures Trading Commission (“CFTC”) investigates and prosecutes violations of the Commodity Exchange Act and governing regulations. Parties...more

McDermott Will & Emery

Inside Out: Is a Recent Crypto Asset Insider Trading Case a Prelude to More SEC Enforcement Actions?

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On July 21, 2022, the US Securities and Exchange Commission (SEC) filed a civil enforcement action alleging that from at least June 2021 to April 2022, the three named defendants orchestrated and perpetrated an insider...more

BCLP

Fallout from the Glencore resolutions & lessons learned

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On 24 May 2022, Glencore International AG announced a series of coordinated resolutions with various international enforcements agencies including the Department of Justice (”DOJ”), the Commodity Futures Trading Commission...more

The Volkov Law Group

Glencore’s Commodity Trading Fraud Scheme (Part IV of V)

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Glencore’s settlement with DOJ and the CFTC revealed a plethora of manipulative, deceptive and corrupt conduct, which spanned from at least 2007 to 2018 and occurred in the United States and global oil markets, including...more

The Volkov Law Group

Glencore Pleads Guilty and Resolves Foreign Bribery and Market Manipulation Charges — Pays Over $1.1 Billion (Part I of V)

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In a long-anticipated and major enforcement action, the Justice Department and the Commodities and Futures Exchange Commission resolved a sprawling investigation with Glencore  International A.G. and Glencore Ltd, a...more

Ballard Spahr LLP

BitMEX Co-Founder and Owner Settles with CFTC and Now Faces Criminal Sentencing

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The legal saga involving the civil and criminal cases against the entity and former individual owners of the Bitcoin Mercantile Exchange, or BitMEX—a large and well-known online trading platform dealing in futures contracts...more

Womble Bond Dickinson

“Carrots & Sticks”: Individual Accountability in Corporate Criminal Enforcement Remains a Top DOJ Priority

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On March 3, 2022, at the 37th Annual American Bar Association Criminal Justice Section National Institute on White Collar Crime in San Francisco, Attorney General Merrick B. Garland emphasized that “the prosecution of...more

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