The Commodity Futures Trading Commission (CFTC) was a busy cop on Wall Street over the last 12 months, reaching record highs on enforcement activity.
The regulator filed 99 enforcement actions in the last fiscal year, a 74 percent increase over the prior year. It also opened over 450 investigations during that time, good for another all-time high.
"As these figures reflect, the dedicated men and women of the CFTC’s Division of Enforcement are working every day to rid the markets of fraud, manipulation and other abuses, and will continue to do so under our new Dodd-Frank authority,” said David Meister, the director of the CFTC's enforcement division.
The expanded role of the CFTC came during the first full fiscal year since the Dodd-Frank financial reform law was enacted. That law handed the CFTC significantly more power, primarily in regulating the financial derivatives marketplace.
The individuals and companies subject to CFTC enforcement include alleged commodity price manipulators, Ponzi schemers and other fraudsters.
All told, the CFTC imposed over $290 million in civil monetary penalties and ordered the payment of over $160 million in restitution and disgorgement for fraud victims — more than double the level of the prior year's sanctions.