The year 2022 was a historic year for the Commodity Futures Trading Commission (“CFTC” or the “Commission”). Just four days into the new year, on January 4, 2022, Rostin Behnam was sworn in as the CFTC’s 15th Chairman. Three...more
2/3/2023
/ CFTC ,
Cryptoassets ,
Decentralized Finance (DeFi) ,
Enforcement ,
Enforcement Actions ,
Enforcement Statistics ,
New Legislation ,
No-Action Letters ,
Pending Legislation ,
Regulatory Agenda ,
Regulatory Standards
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) recently announced enforcement actions that reflected sweeping, and previously unarticulated, views of their respective...more
10/12/2022
/ CFTC ,
Decentralized Autonomous Organization (DAO) ,
Designated Contract Markets (DCMs) ,
Digital Assets ,
Enforcement Actions ,
Extraterritoriality Rules ,
Futures Commission Merchants (FCMs) ,
Initial Coin Offering (ICOs) ,
Jurisdiction ,
Regulatory Agenda ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Violations
2020 saw continuity in CFTC leadership, programs, and direction from 2019. Overall, the Commission enjoyed an unusually heavy rulemaking calendar and continued the direction of its enforcement program from 2019.
On the...more
3/2/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
CFTC ,
Civil Monetary Penalty ,
Compliance ,
Coronavirus/COVID-19 ,
Corruption ,
Department of Justice (DOJ) ,
Digital Assets ,
Enforcement Actions ,
Enforcement Authority ,
Extraterritoriality Rules ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Price Manipulation ,
Regulatory Requirements ,
Relief Measures ,
Spoofing ,
Swap Dealers
On September 10, 2020, the Commodity Futures Trading Commission’s (CFTC, or the Commission) Division of Enforcement (Division) director issued a memorandum to Division staff setting forth a framework for evaluating the...more
In 2019, the Commodity Futures Trading Commission (CFTC or Commission) experienced significant changes in leadership, including the appointment of Dr. Heath P. Tarbert as the Commission’s 14th Chairman.
The Division of...more
2/3/2020
/ CFTC ,
Cooperation ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Derivatives ,
Derivatives Clearing Organizations ,
Digital Assets ,
Enforcement ,
Enforcement Actions ,
Enforcement Statistics ,
Examination Priorities ,
Family Offices ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Intermediaries ,
Market Manipulation ,
Price Manipulation ,
Regulatory Oversight ,
Regulatory Standards ,
Rulemaking Process ,
Spoofing ,
Swap Clearing ,
Swaps ,
Volcker Rule
For the Commodity Futures Trading Commission (CFTC or Commission), 2018 was characterized by (1) an active enforcement program emphasizing cooperation and self-reporting, (2) increasing cross-border tension over supervision...more
2/4/2019
/ Central Counterparties ,
CFTC ,
Cooperation ,
Cross-Border ,
Dodd-Frank ,
Enforcement Actions ,
Margin Requirements ,
Regulatory Standards ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
SEFs ,
Self-Reporting ,
Spoofing ,
Swaps ,
Virtual Currency ,
Volcker Rule
Introduction: On November 30, 2018, the Southern District of New York issued an opinion reaffirming the long-standing rule that traders cannot be found liable for illegal market manipulation when their trading was motivated...more
Within a week of the ceremonial swearing in of its last commissioner, the now fully formed Commodity Futures Trading Commission (Commission or CFTC) issued 17 enforcement orders and filed one complaint. These initial...more
In 2017, under the leadership of new Chairman J. Christopher Giancarlo, the Commodity Futures Trading Commission (CFTC or Commission) adopted a notable shift in its enforcement priorities and regulatory agenda. In March,...more
In 2016, the Commodity Futures Trading Commission (CFTC or Commission) continued to pursue high-profile enforcement cases and to test its new enforcement authority under the Dodd-Frank Wall Street Reform and Consumer...more
On Sept. 30, 2016, Judge Analisa Torres of the Southern District of New York issued an order resolving competing motions for summary judgment in the U.S. Commodity Futures Trading Commission's ongoing action against Donald R....more
CFTC continues to bring high-profile, large-penalty enforcement cases; begins bringing cases to enforce Dodd-Frank Act implementing regulations; and embarks on post-Dodd-Frank Act regulatory initiatives.
...more
1/27/2016
/ Benchmark Pricing ,
CFTC ,
Corporate Counsel ,
Enforcement Actions ,
Fraud ,
Indictments ,
Insider Trading ,
Price Manipulation ,
Regulatory Standards ,
Reporting Requirements ,
Spoofing ,
Whistleblowers