On November 7, 2023, the U.S. Commodity Futures Trading Commission (“CFTC”) released its enforcement results for Fiscal Year 2023 (“FY 2023”). The following are select highlights:
96…
…enforcement actions were filed by the CFTC’s Division of Enforcement of which 62 were administrative cases and 34 were injunctive cases.
12…
…of the 96 enforcement actions involved recordkeeping and reporting violations by financial institutions.
In the past two fiscal years, the CFTC has imposed $1.117 billion in civil monetary penalties on 20 financial institutions for recordkeeping failures.
47…
…of the 96 enforcement actions involved conduct relating to digital asset commodities.
59…
…of the 96 enforcement actions involved fraud as the primary violation.
$4.3 billion…
…is the total value of resulting penalties, restitution, and disgorgement.
For more information, see Press Release Number 8822-23 and the related Addendum, which consists of a very helpful table that summarizes all of the actions and hyperlinks to all of the enforcement actions for FY 2023.