CFTC SETTLES CHARGES AGAINST THREE UK-BASED TRADING FIRMS FOR PARTICIPATING IN ILLEGAL WASH TRADES ON U.S. MARKETS; Fimat International Banque SA, Refco Overseas Ltd. and Credit Lyonnais Rouse Limited Ordered to Pay Total of $75,000 in Civil Penalties Wash trades / fictitious trading

CFTC release 5002-04 · 2004-10-04 · view on cftc.gov ↗

Key facts

Release number: 5002-04
Release date: 2004-10-04
Type: Wash trades / fictitious trading
Primary source: https://www.cftc.gov/PressRoom/PressReleases/5002-04

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.