(a) Statutory inflation adjustment of civil monetary penalties. The Inflation Adjustment Act of 1990, as amended, requires annual inflation adjustments to the civil monetary penalties imposed under the Commodity Exchange Act for violations that occurred on or after November 2, 2015. The Commission will publish notice of these adjusted penalty amounts in the Federal Register. The inflation adjustment is calculated by multiplying the maximum dollar amount of the civil monetary penalty for the previous calendar year by the cost-of-living inflation adjustment multiplier provided by the Office Management and Budget, which is based on the change in the Consumer Price Index, and rounding the total to the nearest dollar. Set forth in the charts in paragraph (b) of this section are the inflation adjusted penalty amounts for violations occurring on or after November 2, 2015 and the penalty amounts for violations that occurred prior to November 2, 2015. These penalty charts are also available on the Commission's website at: http://www.cftc.gov/LawRegulation/Enforcement/InflationAdjustedCivilMonetaryPenalties/index.htm.
(b) 2025 Inflation adjustment. The maximum amount of each civil monetary penalty in the following charts applies to penalties assessed after January 15, 2025:
(1) For violations other than manipulation or attempted manipulation:
Table 1 to Paragraph (b)(1)
| U.S. Code citation | Civil monetary penalty description | Date of violation and corresponding penalty |
|---|
10/23/2004
through
10/22/2008 | 10/23/2008
through
10/22/2012 | 10/23/2012
through
11/01/2015 | 11/02/2015
to present |
|---|
| Civil Monetary Penalty Imposed by the Commission in an Administrative Action |
| 7 U.S.C. 9 (Section 6(c) of the Commodity Exchange Act) | For any person other than a registered entity 1 | $130,000 | $140,000 | $140,000 | $206,244 |
| 7 U.S.C. 13a (Section 6b of the Commodity Exchange Act) | For a registered entity 1 or any of its directors, officers or employees | 625,000 | 675,000 | 700,000 | 1,136,100 |
| Civil Monetary Penalty Imposed by a Federal District Court in a Civil Injunctive Action |
| 7 U.S.C. 13a-1 (Section 6c of the Commodity Exchange Act) | Any Person | 130,000 | 140,000 | 140,000 | 227,220
|
| 1 The term “Registered Entity” is defined in 7 U.S.C. 1a (Section 1a of the Commodity Exchange Act). |
(2) For manipulation or attempted manipulation violations:
Table 2 to Paragraph (b)(2)
| U.S. Code citation | Civil monetary penalty description | Date of violation and corresponding penalty |
|---|
10/23/2004
through
05/21/2008 | 05/22/2008
through
08/14/2011 | 08/15/2011
through
11/01/2015 | 11/02/2015
to present |
|---|
| Civil Monetary Penalty Imposed by the Commission in an Administrative Action |
| 7 U.S.C. 9 (Section 6(c) of the Commodity Exchange Act) | For any person other than a registered entity 1 | $130,000 | $1,000,000 | $1,025,000 | $1,487,712 |
| 7 U.S.C. 13a (Section 6b of the Commodity Exchange Act) | For a registered entity 1 or any of its directors, officers or employees | 625,000 | 1,000,000 | 1,025,000 | 1,487,712 |
| Civil Monetary Penalty Imposed by a Federal District Court in a Civil Injunctive Action |
| 7 U.S.C. 13a-1 (Section 6c of the Commodity Exchange Act) | Any Person | 130,000 | 1,000,000 | 1,025,000 | 1,487,712
|
| 1 The term “Registered Entity” is defined in 7 U.S.C. 1a (Section 1a of the Commodity Exchange Act). |
Notes of Decisions
United States Commodity Futures Trading Commission v. Driver (2012)
cacd · cites it 2×
“8(a)(2)(ii)-(iii), 17 C.F.R. § 143.8 (a)(2)(ii)-(iii), permit civil monetary penalties of up to the greater of $130,000 per violation for acts before October 23, 2008, and $140,000 per violation for acts on or after October 23, 2008, or triple a defendant’s monetary gain.”
Cftc v. James Crombie (2019)
ca9
“CROMBIE also 17 C.F.R. § 143.8 (b). Although § 13a-1 did not explicitly so state, both this circuit and other circuits have long held that district courts have the authority to order traditional equitable relief in actions brought under § 13a-1, as part of their authority to…”
U.S. Commodity Futures Trading Commission v. Wilson (2014)
mad · cites it 2×
“§ 13a-l(d)(l), and 17 C.F.R. § 143.8 , civil monetary penalties are permitted up to the greater of $130,000 per violation for acts committed prior to October 23, 2008, or treble a defendant’s monetary gain.”
U.S. Commodity Futures Trading Commission v. Arrington (2014)
ned
“Under § 13a1(d)(1)(A), and 17 C.F.R. § 143.8 (a)(1), for the time period at issue in this case, the civil monetary penalty shall be not more than the greater of $130,000 for each violation of the CEA or triple the monetary gain to the Defendants.”
U.S. Commodity Futures Trading Commission v. Fan Wang (2017)
nysd
“17 C.F.R. § 143.8 (a)(4)(ii)(B). The Commission arrives at that CMP by arguing that each falsified data entry constituted a violation of the CEA, meaning that the defendant violated the CEA multiple times within one hour.”
— 17 C.F.R. § 143.8(2)(ii) — 1 case
— 17 C.F.R. § 143.8(a)(l)(ii) — 1 case
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