CFTC Orders Chicago-based Advantage Futures LLC, its CEO Joseph Guinan & Former Chief Risk Officer William Steele Jointly to Pay a $1.5 Million Penalty for Supervision, Risk Management Failures & Making Inaccurate Statements in Required CFTC Filings Other enforcement

CFTC release 7449-16 · 2016-09-22 · view on cftc.gov ↗

Key facts

Release number: 7449-16
Release date: 2016-09-22
Type: Other enforcement
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7449-16

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.