Enforcement Actions

The CFTC Division of Enforcement investigates and prosecutes alleged violations of the Commodity Exchange Act and Commission regulations. The CFTC takes enforcement actions against individuals and firms registered with the Commission, those who are engaged in commodity futures and option trading on designated domestic exchanges, and those who improperly market futures and options contracts.

View Dispositions
View Opinions and Adjudicatory Orders

Enforcement Advisory: Updated Advisory on Self Reporting and Full Cooperation

Enforcement Advisory: Cooperation Factors in Enforcement Division Sanction Recommendations for Individuals

Enforcement Advisory: Cooperation Factors in Enforcement Division Sanction Recommendations for Companies

Enforcement Advisory: Advisory on Self Reporting and Cooperation for CEA Violations Involving Foreign Corrupt Practices

See CFTC Press Release 7518-17 (January 19, 2017) and
Speech of James McDonald, Director of the Division of Enforcement Commodity Futures Trading Commission Regarding Perspectives on Enforcement: Self-Reporting and Cooperation at the CFTC (September 25, 2017)

Date ENFORCEMENT ACTIONS
CFTC ACCEPTS SETTLEMENT OFFER OF SOUTHERN THUMB CO-OP, INC. ARISING FROM THE MARKETING OF ILLEGAL OFF-EXCHANGE AGRICULTURAL OPTIONS; CFTC Order Accepting Settlement Offer Finds Fraud In The Solicitation of Customers To Enter Into Off-Exchange Agricultural Options

<p align="left">CFTC FILES COMPLAINT IN ILLINOIS FEDERAL COURT AGAINST CA-NI INDUSTRIES, LTD. AND NICHOLAS J. NICKOLAOU, CHARGING FRAUD IN SOLICITING CUSTOMERS FOR A COMMODITY TRADING PROGRAM AND MANAGED ACCOUNTS; CFTC Seeks Injunctive and Other Equitable Relief, Including Disgorgement of Ill-Gotten Gains, Restitution to Defrauded Customers, and Civil Monetary Penalties,
CFTC FILES ENFORCEMENT ACTION CHARGING THAT FLOOR BROKER CONSTANTINE MITSOPOULOS COMMITTED FRAUD WHILE HANDLING CUSTOMER ORDERS; The CFTC’s Action Further Alleges That Mitsopoulos, Margaret Dull, Lisa Budicak, and Richard Marisie Violated Order-Taking and Recordkeeping Requirements In Preparing Customer Orders And That Mitsopoulos Failed to Supervise Diligently Phone Clerks Who Worked For Him
CFTC FILES CIVIL INJUNCTIVE ENFORCEMENT AGAINST DENVER-BASED CLAIRMONT CAPITAL CORP., AND ITS PRINCIPALS, GEOFFREY L. MANN AND CHARLES W. TRENCH, CHARGING THEM WITH FRAUD AND SELLING ILLEGAL FOREIGN CURRENCY OPTIONS; CFTC Action Charges That The Defendants Made False Representations Regarding Potential Profits and Risks;
CFTC OBTAINS ASSET FREEZE AND APPOINTMENT OF A RECEIVER IN CIVIL INJUNCTIVE ACTION FILED AGAINST PRINCETON GLOBAL MANAGEMENT LTD., PRINCETON ECONOMICS INTERNATIONAL LTD., AND MARTIN A. ARMSTRONG; CFTC Complaint Alleges Fraud and Failure to Register Against Commodity Pool Operators and Commodity Trading Advisors
Tennessee Court Enters Consent Order of Permanent Injunction Against Richard G. Belz, Andrew E. Cafferky and Related Companies of Knoxville, Tennessee, in CFTC Enforcement Action Charging Commodity Pool Fraud; Order Requires Defendants to Disgorge $596,000, Plus Post-Judgment Interest, to Defrauded Investors Release
UTAH FEDERAL COURT ENTERS PERMANENT INJUNCTIONS AGAINST DOUGLAS FOSTER AND ROBERT MONCUR IN CFTC ENFORCEMENT ACTION CHARGING FRAUDULENT OPERATION OF THREE COMMODITY POOLS; Court Permanently Bars Foster and Moncur From Seeking Registration Or Acting In Any Capacity Requiring Registration With the CFTC and Prohibits Them From Trading For Ten Years
VIRGINIA COURT ENTERS DOCUMENT AND ASSET FREEZE IN CFTC INJUNCTIVE ACTION AGAINST PETER BERZINS CHARGING COMMODITY POOL FRAUD; CFTC Alleges Berzins Defrauded Investors By Making Misrepresentations While Soliciting Funds And Operating a Commodity Pool
CFTC FILES ADMINISTRATIVE COMPLAINT AGAINST CARGILL INC., CHARGING THAT CARGILL OFFERED TO ENTER AND ENTERED INTO ILLEGAL AGRICULTURAL OPTION CONTRACTS; CFTC Alleges that Cargill’s Premium Offer Contract Violates the Commodity Exchange Act and CFTC Regulations
CFTC ACCEPTS SETTLEMENT OFFER FROM MICHAEL SINGER IN CASE INVOLVING TRADE PRACTICE FRAUD; Settlement Agreement Revokes Singer’s Registration, Prohibits Him From Trading For Five Years, and Imposes a $75,000 Civil Monetary Penalty, Among Other Sanctions