News & Analysis as of

Commodities Futures Trading Commission Department of Justice (DOJ) Fraud

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 -
Proskauer Rose LLP

DOJ Triples Down on Incentivizing Disclosures with Launch of Three-Year Corporate Whistleblower Awards Pilot Program

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Corporate Whistleblower Awards Pilot Program (“Pilot Program”), aimed at incentivizing whistleblowers to report potential criminal conduct. The announcement was anticipated, having been previewed in March 2024 by Deputy...more

Holland & Hart LLP

Key Compliance Takeaways for Companies from the DOJ's New Corporate Whistleblower Program

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On August 1, 2024, the U.S. Department of Justice (“DOJ”) announced its new “Corporate Whistleblower Awards Pilot Program” (“DOJ Program”), a three-year initiative managed by DOJ’s Money Laundering and Asset Recovery Section....more

American Conference Institute (ACI)

The DOJ’s New Pilot Programs: A Bane for Compliance Programs

For years, Department of Justice officials have stressed how important chief compliance officers are as the first line of defense in fighting corporate crimes. While that’s true, compliance programs now have a competitor in...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - April 2024 - 2

Securities and Exchange Commission. Cryptocurrency regulation. On April 23, 2024, two groups representing the cryptocurrency industry sued SEC over its expanded dealer definition announced earlier this year. The Blockchain...more

Paul Hastings LLP

DOJ Criminal Division Announces New Voluntary Self-Disclosure Pilot Program for Individuals

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On April 22, 2024, the Acting Assistant Attorney General for the Department of Justice (“DOJ”) Criminal Division (“Acting AAG”) Nicole M. Argentieri offered commentary in a blog post regarding the Criminal Division’s newest...more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...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

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events of 2023

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2023 was another groundbreaking year for whistleblower litigation and bounty awards. The U.S. Securities and Exchange Commission shattered records by issuing a $279 million award and continued to actively enforce the...more

Bradley Arant Boult Cummings LLP

Spoofing Market Manipulation Cases Set Stage for More Enforcement

The Seventh Circuit issued the third in a trilogy of opinions in October establishing the metes and bounds for criminal prosecutions of “spoofing”—a form of market manipulation, mostly in the commodities markets—that Congress...more

King & Spalding

Cryptocurrency: Legal Developments and Outlook

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Federal and state regulators have taken an increased interest in regulating cryptocurrencies, digital assets, and the larger blockchain ecosystem. This landscape is opaque and rapidly evolving, and many industry participants...more

Morrison & Foerster LLP

Department of Justice and Commodities Futures Trading Commission Expand Crypto and Cybersecurity Teams

Overall cryptocurrency crime levels are down, according to a report from Chainalysis reviewing crypto crime trends, but this past year has still seen certain categories of crypto crime, such as ransomware, continue to...more

Seward & Kissel LLP

CEL Block One? Bridaled Enthusiasm, Baby in a Corner, and Mellow Yellow

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Below is our initial take on recent bankruptcy-related developments: Alex Mashinsky, co-founder and former CEO of bankrupt crypto lender Celsius has pleaded not guilty to U.S. fraud charges. The indictment includes seven...more

BakerHostetler

Stablecoin Pilot Launches; Crypto Fund Report Published; Senate Seeks Crypto Tax Input; Numerous Crypto Enforcement Actions...

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Company Announces Stablecoin Pilot; BIS Publishes Reports on CBDCs - According to a blog post by a major multinational software company, the company has begun a pilot project to experiment with using the USDC and EUROC...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

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

Paul Hastings LLP

Top PHive Crypto Enforcement Notes: January Edition

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Happy New Year! While the holidays hopefully provided a chance to rest and recharge, things have not slowed down in the world of digital asset enforcement. We see a growing dedication of resources by government law...more

BakerHostetler

CBDC Report Published; Crypto and NFT Initiatives Launch; OFAC Redesignates Tornado Cash; SEC and CFTC Target Crypto Fraud; FTX...

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CBDC Report Published, Blockchain Settlement and Payment Initiatives Launch - This week the New York branch of the U.S. central bank published a report on the Phase I results of Project Cedar, “a multiphase research effort...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

BakerHostetler

Crypto and NFT Firms Make Announcements; Treasury Interprets Crypto Reports; Crypto Enforcement Actions by CFTC, SEC, IRS, DOJ and...

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Exchange Reaches Agreement to Sell Assets; New Crypto Products Launch - In a press release this week, Voyager Digital, a cryptocurrency exchange that recently filed for Chapter 11 bankruptcy, announced that it selected the...more

BakerHostetler

Top 5 Digital Asset Litigation and Investigation Trends of 2022

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Cryptocurrency and digital assets have kept the courts and regulators busy as digital assets continue to pose new questions and challenges for anyone involved in their sale, trade or development. The following trends have...more

BakerHostetler

NFT Endorsements Scrutinized; Bank Crypto Guidance Issued; DOJ, CFTC and SEC Bring Crypto Enforcement Actions; Research Finds...

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NFTs Expand on Social Media, Celebrity NFT Endorsements Scrutinized - According to reports, one of the world’s largest social media platforms recently expanded its NFT (non-fungible token) initiative, allowing users in...more

ArentFox Schiff

CFTC’s Historic Enforcement Action Impacting the Oil Industry & Related Derivatives

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The Commodity Futures Trading Commission, under a reconstituted Commission, is signaling a new era of aggressive enforcement of the Commodity Exchange Act. Significant Violations and Penalties - United States- On...more

BakerHostetler

Crypto Platforms Achieve Foreign Approvals; DOJ Seizes Crypto Ransomware Funds; CFTC Adds Crypto Firms to RED List; Crypto Fraud...

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Foreign Regulators Approve Crypto Platforms; Ethereum Approaching PoS - According to recent reports, several major cryptocurrency platforms have obtained regulatory approval from Italy’s Organismo Agenti e Mediatori (OAM)...more

BakerHostetler

Financial and Crypto Firms Explore Integration; NFT Market Expands; FATF/Basel Publish Crypto Guidance; DOJ/CFTC Bring Crypto...

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Financial Firm Launches Crypto Group, MakerDAO Votes to Integrate with Bank - A major multinational financial institution recently “announced the formation of its Digital Assets and Financial Markets group.” According to...more

BakerHostetler

New Crypto Products Launch, Draft Digital Assets Bill Released, Regulators Address Stablecoins, DOJ Publishes Crypto Report, Hacks...

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Fintech and Crypto Firms Announce Myriad New Crypto Product Launches - This week, a major global payments firm announced the launch of a stablecoin settlement solution that leverages technology by Fireblocks, a digital...more

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