News & Analysis as of

Enforcement Actions Securities and Exchange Commission (SEC) Commodity Exchange Act (CEA)

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC To Reorganize Task Forces and End ‘Regulation by Enforcement’

On February 4, 2025, CFTC Acting Chair Caroline D. Pham announced that the agency was reorganizing the Division of Enforcement’s nine task forces “to combat fraud and help victims while ending the practice of regulation by...more

A&O Shearman

The Commodity Futures Trading Commission Files Its First Actions For Fraud In The Voluntary Carbon Credit Market

A&O Shearman on

On October 2, 2024, the Commodity Futures Trading Commission (“CFTC”) filed a complaint in the U.S. District Court for the Southern District of New York against the former chief executive officer of a carbon credit project...more

Holland & Knight LLP

CFTC, DOJ and SEC Announce First Coordinated Action Aimed at Voluntary Carbon Market Fraud

Holland & Knight LLP on

On Oct. 2, 2024, the Commodity Futures Trading Commission (CFTC), U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) announced parallel actions against CQC Impact Investors LLC (CQC or the...more

Baker Botts L.L.P.

CFTC, SEC, and SDNY Break New Ground and File Charges Against Carbon Credit Project Developer and Former Executives for Fraudulent...

Baker Botts L.L.P. on

On October 2, 2024, the Commodities Futures Trading Commission (“CFTC”), the Securities and Exchange Commission (“SEC”), and the United States Attorney’s Office for the Southern District of New York announced parallel...more

BakerHostetler

Weekly Blockchain Blog - September 2024 #4

BakerHostetler on

Payments Firms Launch Crypto Products, New Crypto Adoption Data Published - According to a recent press release, a well-known U.S. payments and financial technology company announced that it will allow its United States...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

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - February 2024 - 2

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, specifically...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

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

BakerHostetler

Zero Knowledge EVMs Launch; U.S. Central Bank Publishes Custodia Denial Order; CFTC Charges Binance Exchange; SEC, DOJ Bring...

BakerHostetler on

“Z” Doors Are Open: Rival Zero Knowledge EVMs Launch - Earlier this week, a technology innovation lab reportedly released a public Alpha version of its “zero-knowledge Ethereum Virtual Machine” (zkEVM), which has been...more

Morgan Lewis - All Things FinReg

Court OKs CFTC’s Service of Process Through Online Forum, Chat Box in Ooki DAO Action

The US District Court for the Northern District of California ruled on December 20, 2022, that the Commodity Futures Trading Commission (CFTC) properly served the defendant, Ooki DAO, by posting summons documents in Ooki...more

Cadwalader, Wickersham & Taft LLP

CFTC and SEC Issue Guidance on Security-Based Swaps and Fraud in OTC Swap Disclosures

On October 21, Commodity Futures Trading Commission (“CFTC”) Commissioner Caroline D. Pham issued a concurring statement to the CFTC’s amended complaint originally filed on April 27, 2022 in the U.S. District Court for the...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFTC Settles Claims Against Founders of a Decentralized Protocol and Sues Its Successor DAO and Its Members, Pressing a Novel...

On September 22, 2022, the Commodity Futures Trading Commission (CFTC or Commission) (1) issued an order settling charges against protocol creator bZeroX, LLC and its founders, and (2) filed a federal civil enforcement action...more

Katten Muchin Rosenman LLP

CFTC Brings Enforcement Action against Digital Exchange and Natural Person Controller Suggesting Native Cryptoasset is a Commodity...

The Commodity Futures Trading Commission (CFTC) charged a group of companies and their natural person controller with operating an unlicensed futures brokerage company (i.e., a futures commission merchant (“FCM”)); not...more

Katten Muchin Rosenman LLP

Holders of DAO Governance Tokens Beware: According to the CFTC, Voting May Be Hazardous to Your Well-Being

Natural persons and legal entities are potentially jointly and severally liable for all of a decentralized autonomous organization's (DAO) violations of the Commodity Exchange Act (CEA) and Commodity Futures Trading...more

Morrison & Foerster LLP

Acquittal in CFTC’s First Insider Trading Trial: Analysis and Takeaways

On August 9, 2022, in CFTC v. EOX Holdings LLC, the first insider trading trial in a Commodity Futures Trading Commission (CFTC) enforcement action, a jury in the U.S. District Court for the Southern District of Texas found...more

Akin Gump Strauss Hauer & Feld LLP

Increasing Government Enforcement in Insider Trading of Commodities

Key Points - The DOJ and CFTC have filed insider trading charges against a Houston-based energy trader for allegedly disclosing confidential information to a third party who then used the information to trade profitably. ...more

Eversheds Sutherland (US) LLP

Enforcement appears as messages disappear: The perils of personal and ephemeral messaging

On December 17, 2021, a financial institution agreed to pay $200 million in fines to the Securities and Exchange Commission and Commodities Futures Trading Commission for allowing employees to discuss business on their...more

McDermott Will & Emery

A Flurry of CFTC Actions Shock the Cryptocurrency Industry

McDermott Will & Emery on

The Commodity Futures Trading Commission (CFTC) sent shockwaves across the cryptocurrency industry when it issued a $1.25 million settlement order with Kraken, one of the industry’s largest market participants. The next day,...more

Perkins Coie

CFTC Crypto Charges & Settlements Timeline - 2021 Update

Perkins Coie on

The Commodity Futures Trading Commission (CFTC) Settlements Timeline serves as an interactive compilation of select CFTC guidance, enforcement actions, and speeches relating to the application of the federal securities laws...more

Sheppard Mullin Richter & Hampton LLP

CFTC’s Enforcement Division Announces Record-Breaking 2020 and Outlines Priorities for 2021

On December 1, 2020, the Commodities Futures Trading Commission (CFTC) Division of Enforcement published its annual report for Fiscal Year 2020. According to the report, the Division filed a record number of enforcement...more

Sheppard Mullin Richter & Hampton LLP

Spoofing Enforcement Intensifies

U.S. regulators, in particular the Commodity Futures Trading Commission (“CFTC”), are intently pursuing market manipulation enforcement. The September 30 end of the 2019 fiscal year brought with it a flurry of press releases...more

Katten Muchin Rosenman LLP

Bridging the Weeks - October 2019

Last week, the Commodity Futures Trading Commission publicized a cascade of settlements of enforcement actions alleging breaches of laws and rules related to supervision, spoofing, reporting, and misappropriation of...more

Eversheds Sutherland (US) LLP

Legal Alert: DOJ and CFTC team up on spoofing enforcement

On September 16, 2019, the US Department of Justice (DOJ) indicted three precious metals traders for allegedly violating six criminal statutes, including the Racketeer Influenced and Corrupt Organizations Act...more

Katten Muchin Rosenman LLP

Bridging The Week - September 2019 #2

An interdealer broker agreed to pay a fine of US $13 million to the Commodity Futures Trading Commission to resolve charges that it failed to supervise brokers on a swaps desk that allegedly made numerous false or misleading...more

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