FEDERAL COURT ORDERS NEW YORK FOREIGN CURRENCY FIRM TO PAY OVER $100 MILLION IN U.S. COMMODITY FUTURES TRADING COMMISSION ANTI-FRAUD ACTION; International Financial Services (New York) Inc. Ordered to Pay Civil Penalties and Repay Customers Fraud

CFTC release 4816-03 · 2003-07-10 · view on cftc.gov ↗

Key facts

Release number: 4816-03
Release date: 2003-07-10
Type: Fraud
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4816-03

About CFTC enforcement

The CFTC charges market participants under the Commodity Exchange Act for spoofing, manipulation, fraud, wash trades, registration violations, and commodity-pool-operator misconduct. Most actions settle with restitution + civil money penalty + a bar/suspension. Crypto-asset cases have been a major share since 2019.