CFTC Division of Enforcement’s Record-Breaking Year

October 13th | 2020

The CFTC’s recently issued a press release regarding its Enforcement Division’s record-breaking stats for Fiscal Year 2020, which closed on September 30, 2020. The notable achievements include that the Division:

  • Filed more enforcement actions (113) than any other year in the agency’s history;

  • Approved a case imposing the largest monetary relief in the agency’s history, with a $920 million resolution for violations relating to manipulation and spoofing;

  • Filed an action in coordination with more state authorities – 30 states in total – than ever, alleging more than $180 million defrauded from elderly victims;

  • Aggressively pursued fraud occurring during the COVID-19 pandemic, at a time when victims may be particularly vulnerable, filing 29 associated cases since a national emergency was declared on March 13, 2020; and

  • Continued its emphasis on coordination and parallel actions with criminal authorities and its regulatory partners.

The CFTC has also been very active on the rulemaking front and on top of that, there have also been many temporary measures stemming from the agency’s COVID-19 response to contend with. This is a lot of substance in a short time, so firms should take a close look at their compliance programs to be sure their bases are covered.

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