CFTC Division of Enforcement

CFTC Division of Enforcement is a primary unit of the U.S. Commodity Futures Trading Commission (CFTC) responsible for investigating and prosecuting violations of the Commodity Exchange Act (CEA) and Commission regulations, with a mission to protect the public, ensure market integrity, and foster compliance in U.S. derivatives markets. History The CFTC Division of Enforcement (DOE) was established following the creation of the CFTC in 1974 to enforce the Commodity Exchange Act and safeguard the nation's futures and derivatives markets. Since its inception, the division has expanded in scope and sophistication, adapting to evolving market structures, regulatory reforms, and the emergence of complex products, including swaps and digital assets. Over the decades, DOE has prosecuted numerous high-profile cases involving market manipulation, fraud, and disruptive trading, shaping the landscape of U.S. financial regulation. In 2025, under Acting Chairman Caroline D. Pham, the division underwent organizational changes, streamlining its enforcement efforts by consolidating its task forces into specialized units to address complex fraud and retail abuses better while clarifying enforcement priorities. Products and Services The Division of Enforcement carries out a broad range of activities, including detecting, investigating, and prosecuting violations such as fraud, price manipulation, false reporting, use of manipulative devices, registration and supervision failures, and illegal off-exchange activity. Enforcement actions may be pursued administratively before the Commission or in federal courts across the United States. They can result in remedies, including cease-and-desist orders, civil monetary penalties, injunctions, asset freezes, restitution, and disgorgement of gains. The division coordinates closely with federal, state, and international regulators and law enforcement agencies to advance investigations and share information. DOE also engages with the public, self-regulatory organizations, whistleblowers, and industry participants to obtain information on potential wrongdoing. Recent policy developments have placed increased emphasis on transparency and guidance for criminal referrals and prioritizing cases that involve significant retail or market harm. Resources Enforcement Press Releases Case Status Reports Whistleblower.gov Subscribe to DOE’s RSS Feed Key People Senior Staff Paul Hayeck, Acting Director Vincent McGonagle, Principal Deputy Director Gretchen Lowe, Principal Deputy Director and Chief Counsel Rick Glaser, Deputy Director Robert Howell, Deputy Director Charles Marvine, Deputy Director Manal Sultan, Deputy Director Cynthia Lie, Whistleblower Office Acting Director Lenel Hickson, Deputy Regional Counsel Christopher Reed, Deputy Regional Counsel Scott Williamson, Deputy Regional Counsel References

CFTC Division of Enforcement Feed CFTC Secures Court Order Directing Louisiana Man and Arkansas Woman to Pay Over $31 Million for Digital Assets, Precious Metals Fraud The Commodity Futures Trading Commission today announced the U.S. District Court for the Middle District of Florida entered a default judgment against defendants Brian Early and Alisha Ann Kingrey... View Page CFTC Charges Cash FX Group S.A., and CEO; Three Others With $950 Million Fraud Scheme The CFTC today announced it filed a complaint in the U.S. District Court for the Middle District of Florida against Cash FX Group S.A. and its CEO, Huascar Jose Lopez Castillo, of Brazil; The Conve... View Page CFTC Secures Court Order Directing Florida Man to Pay Over $6 Million for Options Fraud and Imposing Trading Bans The CFTC announced today the U.S. District Court for the District of Connecticut entered a default judgment against defendant Michael Frederick Staryk, View Page CFTC Grants Multiple Whistleblower Awards Totaling Over $150 Million The CFTC today announced it has granted 10 whistleblower awards totaling more than $150 million in final award determinations issued between July and September 2026. View Page CFTC Secures Court Orders Directing Texas and Florida Residents to Pay Over $500,000 in Disgorgement and Civil Monetary Penalties and Imposing Trading Bans for Commodity Pool Fraud The CFTC announced today the U.S. District Court for the Southern District of Florida entered consent orders against defendants Steven Likos and Archie Rice for committing retail fraud, fraud as an... View Page CFTC Resolves Action Against Swaps Trader for Making False Statements The CFTC announced the U.S. District Court for the Southern District of New York entered a consent order against John Patrick Gorman III, a U.S. dollar swaps trader and managing director of a globa... View Page