CFTC Anti-Fraud and Anti-Manipulation Authority: A Focus on Intermediaries

CFTC Anti-Fraud and Anti-Manipulation Authority: A Focus on Intermediaries

Publication

This paper was presented at the ABA Derivatives & Futures Law Committee Winter Meeting on December 4, 2023.

Partner Matthew Kulkin, Counsel Isabel Dai and Associate Joshua Nathanson analyze the CFTC’s anti-fraud and anti-manipulation enforcement authority. The paper compares and contrasts the CFTC’s anti-fraud and anti-manipulation enforcement authority under the Commodity Exchange Act and the SEC’s enforcement authority under section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The paper also focuses on recent CFTC fraud and manipulation enforcement cases that involve unregistered and registered intermediaries.

Authors