Market participants must be mindful of the robust enforcement environment at the CFTC and U.S. futures exchanges.  In 2015, the CFTC brought numerous enforcement actions and continued to impose aggressive civil monetary penalties on market participants, including energy and agricultural companies.  Significantly, the CFTC also started to pivot from implementing to enforcing its regulations promulgated under the Dodd-Frank Act.  In light of its scarce resources, the CFTC also has put pressure on futures exchanges such as CME and ICE Futures U.S. to aggressively police their markets.

In a recent Legal Update, members of the Commodity and Derivatives Group in the Washington, DC, office of Norton Rose Fulbright discussed significant developments in CFTC and exchange enforcement during 2015.  Particular topics addressed include the following:

  1. Cases enforcing Dodd-Frank regulations
  2. Manipulation
  3. Non-manipulation cases against energy and agricultural companies
  4. Disruptive trade practices
  5. Failure to supervise
  6. Position limits violations
  7. Bitcoin and swap execution facilities
  8. False statements
  9. Customer protection
  10. Domestic and international enforcement cooperation, and the whistleblower program.
Photo of Angelo Carosio Angelo Carosio

Angelo has been a LexBlog employee for over 8 years, starting on the Success team and then moving into a developer role. These days he mostly spends his time working on the back-end of the LexBlog platform fixing bugs and working on new…

Angelo has been a LexBlog employee for over 8 years, starting on the Success team and then moving into a developer role. These days he mostly spends his time working on the back-end of the LexBlog platform fixing bugs and working on new features for our customers.