CFTC Order Finds that McVean Trading & Investments, LLC; Charles Dow McVean, Sr.; Michael J. Wharton & Samuel C. Gilmore Used a Manipulative or Deceptive Device & Exceeded Position Limits in the Live Cattle Futures Market & Imposes Penalties of $5 Mln Market manipulation

CFTC release 7574-17 · 2017-06-22 · view on cftc.gov ↗

Key facts

Release number: 7574-17
Release date: 2017-06-22
Type: Market manipulation
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7574-17

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.