CFTC Orders New York Trader Simon Posen to Pay a $635,000 Civil Monetary Penalty and Permanently Bans Him from Trading in CFTC-Regulated Markets for Spoofing in the Gold, Silver, Copper, and Crude Oil Futures Markets Spoofing

CFTC release 7594-17 · 2017-07-27 · view on cftc.gov ↗

Key facts

Release number: 7594-17
Release date: 2017-07-27
Type: Spoofing
Primary source: https://www.cftc.gov/PressRoom/PressReleases/7594-17

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.