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Stories of Interest
- New Law Bans Kaspersky Software from Use in U.S. Government
- I Owned Bitcoin For a Weekend and Here's What I Learned
- SEC Appoints New Chair and Board Members to PCAOB
- FINRA, Georgetown Team Up to Deliver 'Certified Regulatory and Compliance Professional' Program
- FINRA Board Meeting - This Week's Agenda
- Statement on Cryptocurrencies and Initial Coin Offerings - SEC Chair Clayton
- Company Halts Initial Coin Offering Over SEC Registration Concerns
- Kevin O'Leary Explains One Big Thing People Don't Understand About Bitcoin (But Need To)
- CME Bitcoin Futures: A Better Way to Buy (or Short) Bitcoin?
- Address at ICI's 2017 Securities Law Developments Conference - SEC Commissioner Stein
- New York Pension Fund Seeks More Pay Disclosure from Wells Fargo
- Wells Fargo Sanctions Are on Ice Under Trump Official
- Josh Brown: Here's How to Buy Bitcoin, But Realize It Could Be One Giant Bubble
- Trump's New Tax Plan Could Cost Citigroup $20 Billion
- Morgan Stanley Fires Former Congressman Harold Ford Jr.
- Al Franken Will Resign Over Sexual Misconduct Allegations - His Full Resignation Speech
- Ex-NFL Player Gets 40 Years for Running $10Mn Fraud
- Bitcoin Blows Past $15K, Adding $2K in Under 12 Hours
- Financial Adviser Settles Charges for Defrauding Private Equity Fund Investors
- New Cross Market Equity Supervision Report Cards - FINRA Phone-In Workshop, WebEx Presentation
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NEWSLETTERS & ALERTS
CFTC Enforcement Actions Were Down for 2017
The CFTC released its enforcement results for FY 2017 (fiscal year ended 9/30/17), during which time the CFTC brought 49 enforcement-related actions and obtained orders totaling $413 million in restitution, disgorgement and penalties.
By comparison, in FY 2016 the CFTC filed 68 enforcement-related actions and obtained orders totaling approximately $1.29 billion in restitution, disgorgement, and penalties. The numbers equate to significant declines in 2017 - a 28% drop in enforcement actions and a 68% drop in financial sanctions.
Depending how you view those statistics, one can either say the agency's regulatory might in 2017 was significantly defanged, or its regulatory efforts in 2017 were somewhat nullified by effective compliance efforts by market participants. Hmmmm!!!
YOU WANT STATISTICS? In 2017, the CFTC obtained $334 million in civil monetary penalties and $79 million in restitution and disgorgement orders. Of the civil monetary penalties imposed, the CFTC collected and deposited at the U.S. Treasury more than $265 million (or 79% of the orders' value). Two-thirds of the 49 enforcement actions involved: Retail Fraud (20 cases); or, Manipulation, Attempted Manipulation, False Reporting, Disruptive Trading (12 cases).