Photos of the Opening and Closing bells are available via Associated Press/New York, Reuters America, Getty Images, Bloomberg Photo and European Press Agency. B-roll of the NYSE trading floor is available five minutes prior to the Opening and Closing Bell feeds. The Opening Bell feed (begins at 9:28 a.m. ET) and Closing Bell feed (begins at 3:58 p.m. ET) are available via Encompass loop #4090. Media seeking footage via The Switch should contact NYSE Broadcast: +1 212 656 5483

Photos of the Opening and Closing bells are available via Associated Press/New York, Reuters America, Getty Images, Bloomberg Photo and European Press Agency. B-roll of the NYSE trading floor is available five minutes prior to the Opening and Closing Bell feeds. The Opening Bell feed (begins at 9:28 a.m. ET) and Closing Bell feed (begins at 3:58 p.m. ET) are available via Encompass loop #4090. Media seeking footage via The Switch should contact NYSE Broadcast: +1 212 656 5483

Washington, DC – The U.S. Commodity Futures Trading Commission today announced it filed a civil enforcement action on January 8th in the U.S. District Court for the Middle District of Florida, charging US Coin Bullion LLC, Salvatore Esposito, and Joseph Esposito with misappropriating over $7.9 million of customer funds, as well as engaging in fraudulent solicitations in connection with the purported purchase of precious metals. 

“As this case shows, the CFTC is actively policing precious metals transactions and will vigorously enforce the anti-fraud provisions of the Commodity Exchange Act,” said CFTC Director of Enforcement James McDonald. “As I have said many times, working in parallel with our law enforcement partners is an extremely effective way to prosecute wrongdoers and send a message to potential wrongdoers that their fraudulent conduct will result in significant consequences.”

The complaint seeks an order that permanently bans the defendants...

Washington, DC – The U.S. Commodity Futures Trading Commission today announced the U.S. District Court for the Northern District of Illinois entered a Consent Order for Permanent Injunction on January 8th against defendant Richard D. Carter of Illinois in connection with a $1.76 million commodity pool fraud operated by Blue Guru, LLC.  

The order requires Carter to pay restitution totaling $838,642 and a civil monetary penalty of $1,760,022. The order also imposes permanent trading and registration bans on Carter and prohibits him from violating provisions of the Commodity Exchange Act as charged. The order stems from a CFTC Complaint filed on January 12, 2018 [CFTC Press Release 7672-18], which charged Carter, co-defendant Mark R. Slobodnik, and Blue Guru, LLC with fraud, misappropriation, and failing to register with the CFTC. 

The order finds that from April 2014 to January 2018, Carter willfully misrepresented...

Pre-CFTC // 1970s // 1980s // 1990s // 2000s // 2010s

October 23-24, 1974—Congress passes the Commodity Futures Trading Commission Act of 1974, and it is signed by President Gerald Ford. The bill overhauls the Commodity Exchange Act and creates the Commodity Futures Trading Commission (CFTC or Commission), an independent agency with powers greater than those of its predecessor agency, the Commodity Exchange Authority. For example, while the Commodity Exchange Authority only regulated agricultural commodities enumerated in the Commodity Exchange Act, the 1974 act granted the CFTC exclusive jurisdiction over futures trading in all commodities..

April 15, 1975—Four of the first five CFTC members, including the CFTC's first Chairman, are sworn in.

April 21, 1975—Authority for the regulation of futures trading is transferred from the Commodity Exchange Authority, an agency in the Department of Agriculture, to the CFTC.

July 18, 19751 — The CFTC...

The best way to protect yourself against fraud is to stay informed. Be aware of the tactics scammers use to lure you into making questionable investing decisions. Watch for the following in the sales pitches:

Pre-CFTC // 1970s // 1980s // 1990s // 2000s // 2010s

April 3, 1848 – The Chicago Board of Trade (CBOT) is founded as a cash market for grain. Forward or “to-arrive” contracts begin trading at the CBOT almost immediately.

1856 – The Kansas City Board of Trade is established by local Kansas City merchants as a means of trading grain.

1858 – Standardized terms are created for forward or “to-arrive” contracts.

February 18, 1859 – The governor of Illinois signs an act of the Illinois legislature that grants a corporate charter to the CBOT. This charter, among other things, grants the CBOT self-regulatory authority over its members, standardizes grades and provides for CBOT-appointed inspectors of grain whose decisions are binding on members. This is one of several steps in the evolution of forward contracts to modern standardized futures contracts. CFTC Annual reports published before 2004 considered 1859 to be the beginning of futures trading in CBOT...

Futures contracts for agricultural commodities have been traded in the United States for more than 150 years and have been under Federal regulation since the 1920s. When the CFTC was created in 1974 with the enactment of the Commodity Futures Trading Commission Act, most futures trading took place in the agricultural sector. Over the years, the futures industry has become increasingly varied and complex.

Significant dates in the history of futures regulation before the creation of the CFTC and significant dates in CFTC history from 1974 to the present are given here.

The Commission relies on the public as an important source of information in carrying out its regulatory and enforcement responsibilities. If you have information about a violation of the Commodity Exchange Act or Commission regulations, you can report such violations or any other suspicious activities to our Division of Enforcement by submitting either a whistleblower Form TCR or a Complaint Form. You do not need to submit both forms, but you must submit a Form TCR to participate in the CFTC’s whistleblower program. Individuals who submit a Form TCR will receive anti-retaliation protections if applicable, and may be eligible for monetary awards of up to 30% of the money collected as a result of their information. Persons with customer complaints about a futures industry professional may also file a complaint under our Reparations Program.

Before working with any person or firm to trade in commodity futures, commodity pools, options, forex, or other derivatives, verify that the entity is properly registered with the CFTC.  The Commodity Exchange Act requires certain firms and individuals to be registered with the CFTC.  Registration and examination of intermediaries is conducted on behalf of the CFTC by the National Futures Association (NFA) under the supervision of the CFTC.

Washington, DC — The U.S. Commodity Futures Trading Commission today filed a civil enforcement action in the U.S. District Court for the Southern District of New York against Christophe Rivoire, a French national, charging him with engaging in a deceptive scheme to manipulate the pricing of an interest rate swap between a bond issuer and a global investment bank. Rivoire was employed as the Head of North American Rates in the New York office of the bank.

“Combating manipulative and deceptive conduct in the swaps markets is crucial to our agency’s mission to preserve market integrity and to protect market participants,” said CFTC Director of Enforcement James McDonald. “We will continue to vigorously pursue all forms of misconduct in the swaps markets, including misconduct related to swaps with bond issuers like that alleged here.”

The complaint alleges that in June and July 2012, Rivoire knew that a bond issuer had negotiated with the bank to price a bond...

Washington, DC — The U.S. Commodity Futures Trading Commission today announced it will award more than $1 million to a whistleblower whose tip helped expose a scheme that violated the Commodity Exchange Act (CEA) and eventually led to the CFTC filing charges. The individual first provided the information through their employer’s internal compliance program to another regulator and then subsequently provided that information directly to the CFTC.

This award is significant because it recognizes that whistleblowers are eligible to receive an award for 1) being the original source of information the CFTC receives from another regulator, or 2) a tip that leads to evidence of a violation the CFTC ultimately charges, even if the reported conduct itself does not form the basis for those charges.

“Today’s award shows how referrals from other regulators can have a meaningful impact on the Commission’s enforcement program, and lead to whistleblower awards from the CFTC....

Washington, DC — At an open meeting today, the U.S. Commodity Futures Trading Commission approved one final rule and two proposed rules.

Final Rule: Amendments to Derivatives Clearing Organization General Provisions and Core Principles

The Commission unanimously approved a final rule to amend certain regulations applicable to registered derivatives clearing organizations (DCOs). The amendments address certain risk management and reporting obligations, clarify the meaning of certain provisions, simplify processes for registration and reporting, and codify existing staff relief and guidance, among other things. In addition, the Commission adopted technical amendments to certain provisions, including certain delegation provisions, in other parts of its regulations.

Proposed Rule: Cross-Border Application of the Registration Thresholds and Certain Requirements Applicable to Swap Dealers and Major Swap Participants

On a 3-2 vote, the Commission approved...

Washington, DC — Three divisions of the U.S. Commodity Futures Trading Commission today announced that each has issued a no-action letter that provides relief to swap dealers and other market participants as it relates to the industry-wide initiative to transition from swaps that reference the London Interbank Offered Rate (LIBOR) and other interbank offered rates to swaps that reference alternative benchmarks.

Each letter outlines conditions under which counterparties will qualify for relief in connection with amending swaps to update provisions referencing LIBOR, or other interbank offered rates, to replacement rates. 

The relief provided by each division is as follows:

The Commission relies on the public as an important source of information in carrying out its regulatory and enforcement responsibilities. If you have information about a violation of the Commodity Exchange Act or Commission regulations, you can report such violations or any other suspicious activities to our Division of Enforcement by submitting either a whistleblower Form TCR or a Complaint Form. You do not need to submit both forms, but you must submit a Form TCR to participate in the CFTC’s whistleblower program. Individuals who submit a Form TCR will receive anti-retaliation protections if applicable, and may be eligible for monetary awards of up to 30% of the money collected as a result of their information. Persons with customer complaints about a futures industry professional may also file a complaint under our Reparations Program.