17 C.F.R. § 180.1

Prohibition on the employment, or attempted employment, of manipulative and deceptive devices

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(a) It shall be unlawful for any person, directly or indirectly, in connection with any swap, or contract of sale of any commodity in interstate commerce, or contract for future delivery on or subject to the rules of any registered entity, to intentionally or recklessly:

(1) Use or employ, or attempt to use or employ, any manipulative device, scheme, or artifice to defraud;

(2) Make, or attempt to make, any untrue or misleading statement of a material fact or to omit to state a material fact necessary in order to make the statements made not untrue or misleading;

(3) Engage, or attempt to engage, in any act, practice, or course of business, which operates or would operate as a fraud or deceit upon any person; or,

(4) Deliver or cause to be delivered, or attempt to deliver or cause to be delivered, for transmission through the mails or interstate commerce, by any means of communication whatsoever, a false or misleading or inaccurate report concerning crop or market information or conditions that affect or tend to affect the price of any commodity in interstate commerce, knowing, or acting in reckless disregard of the fact that such report is false, misleading or inaccurate. Notwithstanding the foregoing, no violation of this subsection shall exist where the person mistakenly transmits, in good faith, false or misleading or inaccurate information to a price reporting service.

(b) Nothing in this section shall be construed to require any person to disclose to another person nonpublic information that may be material to the market price, rate, or level of the commodity transaction, except as necessary to make any statement made to the other person in or in connection with the transaction not misleading in any material respect.

(c) Nothing in this section shall affect, or be construed to affect, the applicability of Commodity Exchange Act section 9(a)(2).

Notes of Decisions

Cited in 68 cases (30 in the last 5 years), 1980–2026 · leading case: Commodity Futures Trading Comm'n v. McDonnell

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Commodity Futures Trading Comm'n v. McDonnell (2018) nyed · cites it 11× “1(a), 17 C.F.R. § 180.1 (a). The CFTC seeks a permanent injunction as well as an award of restitution and imposition of civil monetary penalties against Defendants.”

Commodity Futures Trading Comm'n v. McDonnell (2018) nyed · cites it 9× “See Title 17 C.F.R. § 180.1 . B. Injunctive Relief After hearing testimony from an investigator in the Division of Enforcement for the CFTC, the court finds the plaintiff has made a preliminary prima facie showing that the defendants committed fraud by misappropriation of…”

U.S. Commodity Futures Trading Commission v. Southern Trust Metals, Inc. (2018) ca11 · cites it 4× “§§ 6b(a) and 9, and under 17 C.F.R. § 180.1 . We next turn to the issue of fraud.”

U.S. Commodity Futures Trading Commission v. Kraft Foods Group, Inc. (2015) ilnd · cites it 7× “Section 6(c)(1) makes it “unlawful for any person, directly or indirectly, to use or employ, or attempt to use or employ, in connection with any swap, or a contract of sale of any commodity in. interstate commerce, or for future delivery on or subject to the rules of any…”

In re Commodity Exchange, Inc. (2016) nysd · cites it 3× “§ 9 (1), or to: “[m]ake, or attempt to make, any untrue or misleading statement of a material fact or to omit to state a material fact necessary in order to make the statements made not untrue or misleading” 17 C.F.R. § 180.1 (a)(2); “[e]ngage, or attempt to engage, in any act,…”

In re London Silver Fixing, Ltd. (2016) nysd · cites it 3× “, 2007 WL 1946553 , at *8 (a “generalized [profit] motive” is "insufficient to show intent” because it "could be imputed to any corporation with a large market presence in any commodity market”) (citations omitted).”

Cftc v. Monex Credit Co. (2019) ca9 · cites it 2× “§ 9 (1), and 17 C.F.R. § 180.1 , by fraudulently deceiving its customers, but there was no allegation that Monex manipulated the market.”

Commodity Futures Trading Comm'n v. My Big Coin Pay, Inc. (2018) dcd · cites it 5× “§ 9 (1) ; 17 C.F.R. § 180.1 (a). Defendants' principal argument is that CFTC fails to state a claim because My Big Coin ("MBC" or "My Big Coin"), the allegedly fraudulent virtual currency involved in the scheme, is not a "commodity" within the meaning of the Act.”

Harry v. Total Gas & Power North America, Inc. (2017) nysd · cites it 2× “(“CEA”), 17 C.F.R. §§ 180.1 and 180.2, and Section 2 of the Sherman Act, 15 U.”

United States Commodity Futures Trading Commission v. Hunter Wise Commodities, LLC (2014) flsd · cites it 3× “17 C.F.R. § 180.1 . Count Thirteen of the Complaint claims that Hunter Wise, Mr.”

Ploss v. Kraft Foods Group, Inc. (2016) ilnd “§ 9 (1)(A); 17 C.F.R. § 180.1 (a)(4). Kraft allegedly submitted false volume information to CBOT, which then published the information to the market; this may form the basis of a false-report claim.”

U.S. Commodity Futures Trading Commission v. Southern Trust Metals, Inc. (2018) ca11 · cites it 4× “§§ 6b(a) and 9, and under 17 C.F.R. § 180.1 . We next turn to the issue of fraud.”

Show all 68 citing cases →

— 17 C.F.R. § 180.1(a) — 1 case

Dennis v. The Andersons Inc. (2025) ilnd

— 17 C.F.R. § 180.1(a)(2) — 1 case

In re London Silver Fixing, Ltd. (2016) nysd “, 2007 WL 1946553 , at *8 (a “generalized [profit] motive” is "insufficient to show intent” because it "could be imputed to any corporation with a large market presence in any commodity market”) (citations omitted).”

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