The U.S. Commodity Futures Trading Commission (CFTC) on Monday published enforcement results that show that the agency ordered US$1.29 billion in restitution, disgorgement, and penalties in the fiscal year ended Sept. 30.
The CFTC filed 68 enforcement actions; and litigated more than 100 cases in court, during the year. The agency also collected more than US$484 million in civil monetary penalties, it said in a news release.
“The division’s work over the past year demonstrates that those who would cheat or defraud investors in our markets, or undermine the integrity of the markets themselves, will face the determined efforts of the CFTC, as well as the criminal prosecutors who are our partners in this effort,” said Aitan Goelman, director of the enforcement division, in a statement.
“Our trial record this past year also reflects the division’s ability and will to successfully prosecute our cases through trial,” he added.
The CFTC also issued a whistleblower award of more than US$10 million during the year, which was the largest such award since its whistleblower program was established in 2010.
“The CFTC’s enforcement record shows that the CFTC brings critical, high impact cases that protect customers and ensure the integrity and transparency of the derivatives markets we regulate,” said Timothy Massad, CFTC chairman. “The work of the enforcement division is the instrument by which the CFTC sends the clear and unwavering message to those who engage in wrongdoing in our markets that they will be held accountable.”