Drop in CFTC Enforcement Actions for 2017

The U.S. Commodity Futures Trading Commission is seeing a drop in CFTC enforcement actions for 2017. The agency recently announced that it imposed nearly $413 million in sanctions this fiscal year, amounting to 49 enforcement actions during the 12 months ending in September 2017. Of the $413 million, the CFTC said it had secured nearly $334 million in civil penalties and $79 million in disgorgement.

The sanctions and the number of enforcement actions are less than half of the penalties from the previous fiscal year and the lowest since 2011. According to CFTC statistics, there were 68 enforcement actions filed in fiscal 2016, which generated nearly $1.3 billion in penalties and disgorgement orders.

The drop in the amount and size of enforcement actions comes as the CFTC reshapes its enforcement practices in the face of a shrinking budget. These changes include campaigning for companies to self-report violations in exchange for smaller penalties.

Despite this, the CFTC praised its own efforts during 2017, highlighting 12 cases related to market manipulation and attempted market manipulation, six for failure to protect customer funds and related problems, and 20 for retail fraud. Three more cases were brought for wash trades, position limit violations and other trading problems; seven were filed for reporting and record-keeping violations; and one for illegal, off-exchange transactions.

The drop in CFTC enforcement actions also comes after the agency’s Enforcement Division wrapped up cases involving rigging of the Libor and other benchmark interest rates, as well as other prominent cases. Those cases allowed the agency to claim a record $3.1 billion in enforcement actions in fiscal 2015.

Have You Lost Money to Investment Fraud?

If you believe you have been the victim of investment fraud, you may have certain legal rights that require your immediate attention.

Call a Securities Fraud Attorney Today

If you are looking for an investment fraud attorney to review your rights and options, the securities fraud lawyers at Dimond Kaplan & Rothstein, P.A. have recovered more than $100 million from banks and brokerage firms for their wrongful actions.

With offices in Los AngelesNew YorkWest Palm Beach and Miami, our investment fraud attorneys represent clients nationwide and may be able to help you recover your investment losses.

Contact an investment fraud attorney at Dimond Kaplan & Rothstein, P.A. today to schedule an appointment or consultation to review your rights and options.

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