Commodity Futures Trading Commission - News, Articles & Research

JP Morgan to pay $100m for client order monitoring failures

JP Morgan will pay $100 million to settle a CFTC probe that concluded the bank failed to properly monitor billions of client orders between 2014 and 2021.

27 May 2024

Company announcement/regulation

CFTC seeks comment on AI use in derivatives markets

The Commodity Futures Trading Commission’s Divisions of Market Oversight, Clearing and Risk, Market Participants, and Data and the Office of Technology Innovation today issued a request for comment (RFC) to better inform them on the current and potential uses and risks of artificial intelligence (AI) in the derivatives markets the CFTC regulates.

29 January 2024

News/regulation

CFTC takes aim at ID discovery in DeFi

The Commodity Futures Trading Commission (CFTC) is urging policymakers to address identity issues in Decentralized Finance (DeFi) operations.

09 January 2024

Company announcement/regulation

US court approves CFTC settlement against Binance and $2.7 billion penalty

The Commodity Futures Trading Commission today announced the U.S. District Court for the Northern District of Illinois has approved the previously announced settlement and entered a consent order of permanent injunction, civil monetary penalty, and equitable relief against Changpeng Zhao and his companies Binance Holdings Limited, Binance Holdings (IE) Limited, and Binance (Services) Holdings Limited (together, Binance).

19 December 2023

Company announcement/regulation

CFTC issues orders against 3 DeFi operators for illegal derivatives trading

The Commodity Futures Trading Commission today continued its enforcement focus in the digital asset decentralized finance (DeFi) space, by issuing orders simultaneously filing and settling charges against Opyn, Inc., a Delaware-registered company based in California; ZeroEx, Inc., a Delaware company based in California; and Deridex, Inc., a Delaware company based in North Carolina.

08 September 2023

News/regulation

More banks pay multi-million dollar penalties over WhatsApp use

Wells Fargo and BNP Paribas are among the latest banks to be hit with multi-million dollar penalties by US regulators over employee use of unofficial communication tools like WhatsApp and iMessage.

08 August 2023

Company announcement/regulation

CFTC hits Goldman Sachs with $15 million fine for violating swap standards

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Goldman Sachs & Co. LLC (Goldman) for violations of the CFTC’s Business Conduct Standards applicable to swap dealers.

11 April 2023

Company announcement/people

CFTC creates Office of Technology Innovation

Commodity Futures Trading Commission Chairman Rostin Behnam today announced a reorganization of FinTech and customer protection efforts and changes to key roles as the agency evolves to address changing markets and market demographics.

26 July 2022

News/regulation

CFTC sues Gemini over 'false statements' relating bitcoin futures plan

The Commodity Futures Trading Commission (CFTC) has sued Gemini Trust accusing the crypto exchange of false statements relating to the self-certification of a bitcoin futures product.

03 June 2022

News/regulation

JPMorgan Chase fined $200 million for conducting business on WhatsApp

JPMorgan Chase has received a $125 million penalty from the Securities and Exchange Commission (SEC), for allowing Wall Street employees to use apps including WhatsApp to get around US federal record-keeping laws.

20 December 2021

News/regulation

CFTC hits Tether and Bitfinex with fines totalling $42.5m

Tether has been hit with a $41 million penalty from the Commodity Futures Trading Commission over misleading claim that its stablecoin was fully backed by US dollars. Separately, the CFTC has fined sister company Bitfinex $1.5 million for illegal transactions.

18 October 2021

Company announcement/regulation

Citi fined $1 million for swap data reporting violations

The Commodity Futures Trading Commission today filed and settled charges against Citibank, N.A. and Citigroup Global Markets Limited (collectively, Citi), two provisionally registered swap dealers, for failing to comply with certain swap dealer requirements for reporting Legal Entity Identifier (LEI) information to a swap data repository (SDR) and related supervision failures.

27 September 2021