The Commodity Futures Trading Commission (CFTC) said it brought 57 enforcement actions in fiscal year (FY) 2010 for market and trading violations, which was 14% and 42% more than what was filed last year and in FY 2008, respectively.
The actions brought by the CFTC’s Division of Enforcement resulted in more than $186 million in civil penalties, restitution and disgorgement. In FY 2010, the division reported that it opened 419 investigations, an all-time high, which was 66% more than the 251 investigations opened in FY 2009.
Of the 57 enforcement actions brought during FY 2010, 15 involved commodity pool frauds and 14 involved retail foreign currency fraud.
The Division of Enforcement continued to actively prosecute fraud and manipulation in FY 2010, the agency said. The CFTC filed six complaints charging manipulation, attempted manipulation or false reporting, which was five more than what was filed in the previous year. The division said it also saw a sharp increase in the number of trade practice violations charged, from three in FY 2009 to 11 in FY 2010.
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