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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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).