News & Analysis as of

Commodities Futures Trading Commission Department of Justice (DOJ) Commodity Exchange Act (CEA)

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

CFPB Warns Employee NDAs, Confidentiality Agreements May Violate Whistleblower Laws

On July 24, 2024, the Consumer Financial Protection Bureau (CFPB) issued guidance putting financial regulators and employers on notice that requiring employees to sign broad confidentiality or nondisclosure agreements that...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

Wiley Rein LLP

Whistleblower Protections: Federal Agencies Ramp Up Enforcement

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Federal agencies are continuing to prioritize and ramp up enforcement of whistleblower protection rules, underscoring the need for all companies – both public and private – to undertake routine compliance reviews. On June...more

The Volkov Law Group

DOJ and CFTC Bring Charges Against Crypto Exchange KuCoin for AML and KYC Failures

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On March 26, 2024, the U.S. Department of Justice (“DOJ”) unsealed an indictment against prominent cryptocurrency exchange KuCoin and two of its founders, Chun Gan and Ke Tang.  The DOJ charged the exchange and its founders...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for December 2023

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption law and enforcement developments from the past...more

BakerHostetler

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

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“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

Davis Wright Tremaine LLP

CFTC’s Annual Enforcement Results Include Notable and Novel Cases

The Commodity Futures Trading Commission ("CFTC") recently released its enforcement results for Fiscal Year 2022 ("FY 2022"). In addition to detailing the recovery of over $2.5 billion in restitution, disgorgement, and civil...more

Paul Hastings LLP

Top PHive Crypto Enforcement Notes: October Edition

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We knew there would be plenty to write about each month, and so we start with a mention of the White House’s Framework for Responsible Development of Digital Assets, issued on September 16, 2022....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

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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

Jones Day

The DOJ and the CFTC Are Focused on Commodities Fraud Enforcement—Are You? Suggestions for Preparing Your Organization

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The Department of Justice ("DOJ") and the Commodity Futures Trading Commission ("CFTC") in recent years have worked closely together to target companies and individuals for violations of the Commodity Exchange Act and other...more

Jones Day

JONES DAY TALKS®: CFTC and DOJ Target Derivatives Trading Across Industries

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In an effort to pursue unlawful trading in the derivatives markets, the U.S. Commodity Futures Trading Commission ("CFTC") and U.S. Department of Justice ("DOJ") have in recent years engaged in unprecedented levels of...more

Orrick, Herrington & Sutcliffe LLP

For the First Time, the CFTC Uses its Powers to Combat Foreign Corruption

In a landmark action on December 3, 2020, the Commodity Futures Trading Commission (“CFTC”) announced resolution of its first enforcement action involving foreign corruption by issuing an order and settling charges against...more

Ballard Spahr LLP

CFTC and DOJ Charge BitMEX and Executives With Illegally Trading in Digital Assets and Ignoring BSA/AML Requirements

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Incorporating in the Seychelles but Allegedly Operating in the U.S. Spells Trouble for Company and its Founders - The Bitcoin Mercantile Exchange, or BitMEX, is a large and well-known online trading platform dealing in...more

Pillsbury Winthrop Shaw Pittman LLP

BitMEX Faces Civil and Criminal Charges over Alleged CEA and AML Violations

BitMEX, a Seychelles-based centralized exchange for trading derivatives on bitcoin, ether and litecoin, and certain of its executives have been charged with a number of violations under the U.S. Commodity Exchange Act (CEA),...more

BakerHostetler

CFTC Joins Other Federal Agencies in Issuing Guidance to Make Transparent Certain Guideposts When Contemplating an Enforcement...

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On September 10, 2020, the Commodity Futures Trading Commission (CFTC or Commission) announced the issuance of new, public, staff-level guidance by its Division of Enforcement (Division) that outlines factors to be considered...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

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

Faegre Drinker Biddle & Reath LLP

DOJ and CFTC Bring Actions Against Precious Metals Traders

Recently, the Department of Justice indicted three precious metals traders in the Northern District of Illinois, charging each them with violating the Racketeer Influenced and Corrupt Organization Act (“RICO”), committing...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

Katten Muchin Rosenman LLP

Bridging the Weeks - July 2019

A trading firm agreed to settle charges brought both by the Commodity Futures Trading Commission and the Chicago Board of Trade that trading activities it engaged in during pre-opening market periods constituted wash sales....more

Katten Muchin Rosenman LLP

Bridging the Week - April 2019 #4

New York regulators continued an aggressive approach against certain entities engaged in virtual currency businesses when the state's Attorney General’s office obtained an ex parte order precluding companies associated with a...more

Jones Day

CFTC Issues Advisory on Self-Reporting of Foreign Corrupt Practices for Non-Registrants

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The Advisory is part of the agency's broader commitment to provide "incentives for companies and individuals to engage in ethical corporate behavior." On March 6, 2019, the U.S. Commodity Futures Trading Commission...more

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