If you are involved in the futures and options market, you are no doubt aware of the CFTC. An agency that exercises tremendous power over this area of the financial industry, the CFTC has the ability to regulate all actions related to various exchanges and OTC trades. Because of this, it is important to remember that not only are brokers subject to the strict CFTC rules, but in fact anyone involved in futures, options, and swaps as well. Thus, even if you make the smallest of violations, you may suddenly find yourself facing various allegations and charges brought forth by the CFTC. If this happens, always hire an experienced CFTC enforcement attorney.
Harsh Penalties and Sanctions
If the Commodity Futures Trading Commission (CFTC) believes you have committed certain violations, be prepared for harsh penalties and sanctions. In many cases, the CFTC will use such penalties as fines, bans, and even varying degrees of criminal penalties that could land you in prison. Since the agency conducts its own investigations through its Division of Enforcement, it is able to make these investigations lengthy and very detailed, which can put enormous pressure on individuals who may be under the microscope of investigators. Rather than place your legal fate in the hands of an attorney who has never before handled a CFTC case, contact a knowledgeable CFTC enforcement attorney.
Planning Your Defense
When the CFTC comes knocking at your door with various allegations and threats of fines and jail time, do not let yourself panic and make poor decisions. Instead, immediately contact a skilled CFTC enforcement attorney who has an in-depth knowledge of CFTC cases and can work with you to plan a strong defense that gives you a favorable outcome. Depending on the circumstances of your case, you and your attorney may choose to mount a strong defense to prove your innocence. However, in other situations where the charges against you may be more substantial, it may be to your benefit to instead work with government investigators so that you gain the best resolution to your case. Whichever option is selected, your CFTC enforcement attorney can always make sure your legal rights are protected from start to finish.
Increased and Expanded Authority
With the passage of the Frank-Dodd Act and various amendments that have been added to the legislation over the years, the CFTC has found itself to be an agency that has been able to increase and expand its authority over the futures and options market. As a result of this greater authority given it by the federal government, the CFTC is often very aggressive when pursuing investigations of all types. Therefore, once CFTC investigators charge you with various types of illegal activity, do not sit back and hope everything resolves itself. Since these investigations can move very quickly if you fail to put up much legal resistance, hire a CFTC enforcement attorney who can slow down the process while examining evidence and building a legal strategy for your case.
Protection from Fraudulent Practices
While the mission of the CFTC is to protect those involved in futures and options from falling victim to fraudulent and manipulative practices, this sometimes means those who may be unaware of certain rules and regulations get caught up in investigations where they had no intention of wrongdoing. For example, since such commodities as gold, copper, and gas are now included under the umbrella of markets that are scrutinized by the CFTC, it is possible you may be conducting business in a manner that you do not believe to be illegal. However, if the CFTC thinks otherwise, an investigation and charges are sure to ensue. Rather than try to deal with government investigators on your own or with an inexperienced attorney, always rely on the expertise of CFTC enforcement attorneys to protect your constitutional rights from being violated.
Going to Trial
If the CFTC does in fact bring charges against you, do not think the agency will simply allow you to settle your case with an informal hearing or other quick and easy measures. Instead, you will be facing a trial in a courtroom. Due to the agency being known for its aggressiveness in pursuing convictions, its attorneys will pull out all the stops in an effort to find you guilty and send a message along the way. To walk out of court victorious, you will need CFTC enforcement attorneys who have handled these cases in the past and have a track record of success with their clients. Otherwise, fines and a prison sentence could be in your future.
Should you fail to take CFTC charges against you seriously, you run the risk of severe legal penalties. To keep this from happening, turn to CFTC enforcement attorneys you can trust to handle your case in a professional manner.
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CFTC investigations and enforcement actions – we handle them nationwide. The United States CFTC Division of Enforcement investigates, and prosecuted, any alleged violations that comprise the Commodity exchange act and CFTC regulations. CFTC Enforcement Attorney Todd Spodek can help with all aspects of a CFTC inquiry, ranging from informal inquiries, to formal investigations, enforcement actions, and more. It’s important that at the outset of any commodities investigation, or enforcement action, to create a strategy which will lead to a speedy resolution. In some cases, our law firm might advise you to cooperate with the government. In other cases, we might advise a more aggressive defense. Depending on the situation, our CFTC Enforcement Attorneys will advise you and guide you.
The most important thing you can be rest assured of – is the fact we’re going to look out for you, and care immensely about your best interests. Our team of CFTC Enforcement Attorneys has the ability to handle CFTC investigations nationwide. We can take over any investigation – regardless of the stage you’re at. With the Dodd-Frank amendments, the commodities environment has come under intense scrutiny. The Dodd-Frank amendments gave the CFTC And it’s Division of Enforcement a lot of authority to handle investigations.
What happens if you’re under investigation
The first thing you should do is speak to our CFTC Enforcement Attorneys. We can provide a risk free consultation to handle your CFTC investigation concerns.
CFTC Investigation Enforcement Attorneys
The CFTC is an agency that essentially regulates actions involving the trade industry. It is particularly powerful when pertaining to options, swaps or futures and has the ability to enforce actions against not only brokers but any operator at all. The bottom line is that the CFTC’s main responsibility is to ensure that everyone in the trade industry complies with the law. As a result, if you are uncertain about some of the laws in this area, it’s worth your while to consult with a CFTC investigation enforcement attorney.
If anyone is found to have committed violations, or potentially done so, of CFTC regulations, the CFTC can impose penalties on the offenders. Penalties can include bans, fines or even criminal prosecution. The CFTC, also known as the United States Commodity Futures Trading Commission, performs investigations when it believes its laws and regulations have been violated and subsequently prosecutes for those violations. The Dodd-Frank amendment has made the CFTC’s authority even greater than ever, which makes getting the help of a CFTC investigation enforcement attorney that much more important.
What are Futures and Options?
Generally speaking, the CFTC protects futures and options. These two things are contracts that revolve around the ability to buy or sell an asset at any given time in the future. Futures contracts make the owner obligated to buy or sell an asset while options contracts give the owner the right to buy or sell assets.
There is an entire market that revolves around the trading of both futures and options contracts. Overall, businesses are the most likely to participate in these things to help save money on commodities as there is always a high possibility of prices of commodities increasing in the future.
What are the Mission and Responsibilities of the CFTC?
The CFTC’s mission is to promote the development and growth of futures and options trading. It aims to make the market fair and competitive to the public and protects against any abusive, fraudulent practices.
The CFTC has the responsibility of regulating the market and ensuring that the Commodities Exchange Act (CEA) is fairly enforced. The CEA dates back to 1936, which was many years prior to the establishment of the CFTC. The CEA is a revised version of 1922’s Grain Futures Act. Back when the Grain Futures Act existed, the Department of Agriculture held responsibilities over the trading and commodities market. However, the market changed over the years and includes many different commodities, including gas, copper and gold.
What is the History of the Future Trading Industry and CFTC?
Commodities trading began back in the 1860s, long before the CFTC existed. Generally, the main area of commodities traded fell under the category of agriculture. As a result, the Grain Futures Act regulated the market. In 1936, it changed to become the Commodities Exchange Act, which still exists today. Newer commodities came into the market as a result.
Then, in 1974, the CFTC was founded and took responsibility of the Department of Agriculture by administering the future trading market. President Barack Obama gave the CFTC greater authority of the market as a result of 2008’s financial crisis through the creation of the Dodd-Frank Act.
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