Liz Pendleton
Elizabeth N. "Liz" Pendleton is a lawyer and former chief trial attorney in the Commodity Futures Trading Commission's Division of Enforcement who represented the agency in digital asset derivatives litigation.[1][2] Background[edit]Commodity Futures Trading Commission[edit]Pendleton worked in the CFTC's Chicago office, where she supervised teams of trial attorneys, investigators and economists. Her enforcement work included fraud and manipulation involving cryptocurrencies, registration violations, false reporting, trade practice violations and Ponzi schemes. She also served a three-year term as co-chair of the Division of Enforcement's Digital Asset Task Force and participated in the commission's Digital Commodities Working Group, advising on legal and policy issues concerning digital assets.[3] As a senior trial attorney, Pendleton was among the attorneys representing the CFTC in its June 2013 complaint against Banc de Binary Ltd. The complaint concerned an online platform offering binary options to U.S. customers and alleged illegal off-exchange options and futures transactions and failure to register as a futures commission merchant. The case addressed the application of U.S. derivatives requirements to transactions offered through an offshore internet-based platform.[4] Pendleton was promoted to chief trial attorney in June 2020 and, in that role, led the CFTC actions against BitMEX. In August 2021, a federal court entered a consent order requiring the platform's operating entities to pay a $100 million civil monetary penalty, with up to $50 million eligible for an offset against payments to the Financial Crimes Enforcement Network. The order found violations involving the operation of an unregistered trading platform, unregistered futures commission merchant activities and inadequate customer identification and anti-money-laundering procedures. The case concerned access by U.S. customers to derivatives referencing bitcoin and other cryptocurrencies.[5] In October 2021, she also led the CFTC's actions against Tether. The Tether order imposed a $41 million penalty for misleading statements and omissions concerning the reserves backing its U.S. dollar stablecoin. A separate order imposed a $1.5 million penalty on the Bitfinex entities for illegal off-exchange retail commodity transactions, operating without required registration and violating an earlier CFTC order. These matters addressed both representations about digital asset backing and the regulatory treatment of financed retail transactions.[6] Pendleton also led the CFTC's enforcement action against Binance and its founder, Changpeng Zhao. In December 2023, the U.S. District Court for the Northern District of Illinois entered a consent order requiring Binance to disgorge $1.35 billion in transaction fees and pay a $1.35 billion civil monetary penalty, while ordering Zhao to pay a $150 million penalty. The order found violations of the Commodity Exchange Act and CFTC regulations and required certifications concerning improved compliance controls. The agency identified Pendleton, Candy Haan, Joseph Platt, Scott R. Williamson and Robert T. Howell among the staff responsible for the matter.[7] Pendleton discussed the cryptocurrency whistleblower process in a January 2024 interview with Amanda Wick and Juliana Andonian, an attorney representing whistleblowers at Levy Firestone Muse LLP. The discussion covered how whistleblowers bring information to enforcement authorities and navigate the reporting process.[8] In public reflections on her CFTC service, Pendleton credited Robert Howell, Gretchen Lowe and Scott Williamson with management and institutional support. She described Allison Passman as a strategic collaborator and identified Bill Janulis and Susan Gradman as former chief trial attorneys who supported her early CFTC career.[9] H&R Block[edit]Pendleton joined H&R Block in February 2026 as director, corporate counsel - litigation, based in Kansas City, Missouri. Her professional profile lists the position as her current role.[10] Education[edit]Pendleton graduated from Kenyon College in 1998.[11][12] She holds a Juris Doctor degree from Boston College School of Law.[13] References[edit]
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