U.S. COMMODITY FUTURES TRADING COMMISSION FINES NYMEX FLOOR BROKER FOR UNLAWFULLY TRADING CRUDE OIL FUTURES CONTRACTS; Michael Garber Settles Charges that He Engaged in Wash Sales, Reported Non-Bona Fide Prices, and Executed Non-competitive Trades; CFTC Also Files Charges Against NYMEX Floor Broker Robert Benjamin Harmon, Jr. Settlement

CFTC release 4837-03 · 2003-09-09 · view on cftc.gov ↗

Key facts

Release number: 4837-03
Release date: 2003-09-09
Type: Settlement
Primary source: https://www.cftc.gov/PressRoom/PressReleases/4837-03

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.