7 U.S.C. § 13c
Responsibility as principal; minor violations
1992—Subsec. (c). Pub. L. 102–546, § 402(9)(C), which directed that “the Secretary of Agriculture or” be struck out, could not be executed because of amendment by Pub. L. 93–463, § 103(a). See 1974 Amendment note below.
Pub. L. 102–546, § 402(1)(D), substituted “Commission” for “commission” before “to report”.
1983—Subsec. (a). Pub. L. 97–444, § 230(1), struck out “in administrative proceedings under this chapter” after “may be held responsible”.
Subsecs. (b), (c). Pub. L. 97–444, § 230(2), (3), added subsec. (b) and redesignated former subsec. (b) as (c).
1974—Subsec. (b). Pub. L. 93–463, § 103(a), provided for substitution of “Commission” for “Secretary of Agriculture” except where such words would be stricken by section 103(b), which directed striking the words “the Secretary of Agriculture or” where they appeared in the phrase “the Secretary of Agriculture or the Commission”. Because the word “commission” was not capitalized in the text of this section, section 103(b) did not apply to this section and therefore section 103(a) was executed, resulting in the substitution of “the Commission or the commission” for “the Secretary of Agriculture or the commission”.
Amendment by Pub. L. 97–444 effective
For effective date of amendment by Pub. L. 93–463, see section 418 of Pub. L. 93–463, set out as a note under section 2 of this title.
Section effective 120 days after
Notes of Decisions
Cited in 88
cases (17 in the last 5 years), 1973–2024 · leading case: United States Commodity Futures Trading Comm'n v. Hunter Wise Commodities, LLC, 21 F. Supp. 3d 1317 (S.D. Fla. 2014).
United States Commodity Futures Trading Comm'n v. Hunter Wise Commodities, LLC, 21 F. Supp. 3d 1317 (S.D. Fla. 2014). “Count Thirteen, aiding and abetting under Section 13(a) of the Act, 7 U.S.C. § 13c, against Hunter Wise, Mr. Martin, and Mr.”
Commodity Futures Trading Comm'n v. Equity Fin. Grp. LLC, 572 F.3d 150 (3rd Cir. 2009). “Finally, the District Court concluded, Shimer is liable under 7 U.S.C. § 13c(a) for aiding and abetting Tech Traders’s violation of 17 C.”
Jeffers v. United States, 432 U.S. 137 (1977). “) (Federal Election Campaign Act Amendments of 1976); 7 U. S. C. § 13c (a) (1970 ed., Supp. V) (Commodity Futures Trading Commission Act of 1974liability as principal); 10 U.”
Commodity Futures Trading Comm'n v. McDonnell, 332 F. Supp. 3d 641 (E.D.N.Y 2018). “Under Section 13(b) of the Act, 7 U.S.C. § 13c(b), an individual who possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of an entity may be liable as a controlling person of that entity, provided that the individual…”
United States Commodity Futures Trading Comm'n v. Kratville, 796 F.3d 873 (8th Cir. 2015). “” 7 U.S.C. § 13c(b). For liability to attach, the Commission must prove: (1) that a corporation violated the Act; (2) that the defendant “directly or indirectly” controlled that corporation; and (3) that the controlling person “did not act in good faith or knowingly induced,…”
Commodity Futures Trading Comm'n v. Sterling Trading Grp., Inc., 605 F. Supp. 2d 1245 (S.D. Fla. 2009). “11, which bar fraud in connection with commodity option transactions and suspend commodity option transactions not otherwise permitted under the regulations, are applicable to foreign currency transactions conducted by Defendants who are not proper counterparties, as are the…”
Anthony J. Bosco v. Robert B. Serhant, 836 F.2d 271 (7th Cir. 1988). “” Section 13(a), 7 U.S.C. § 13c(a), provided that “any person who .”
Calle Gracey v. J.P. Morgan Chase & Co., 730 F.3d 170 (2d Cir. 2013). “This language tracks that of 7 U.S.C. § 13c(a), which establishes aiding and abetting liability generally under the CEA.”
Brian Monieson v. Commodity Futures Trading Comm'n, 996 F.2d 852 (7th Cir. 1993). “Most important for this case, the complaint charged Monieson with liability as a “controlling person” of Furlett and Green-spon under Section 13(b) of the CEA, 7 U.S.C. § 13c(b), and with failure to supervise under Rule 166.”
Commodity Futures Trading Comm'n v. Int'l Fin. Servs. (New York), Inc., 323 F. Supp. 2d 482 (S.D.N.Y. 2004). “Title 7 U.S.C. § 13c(b) provides: Any person who, directly or indirectly, controls any person who has violated any provision of this chapter or any of the rules, regulations, or orders issued pursuant to this chapter may be held liable for such violation in any action brought by…”
Deangelis v. Corzine, 998 F. Supp. 2d 157 (S.D.N.Y. 2014). “§ 25 (“Section 22”); aiding and abetting violations of the CEA and the CFTC Regulations, in violation of Section 13 of the CEA, 7 U.S.C. § 13c (“Section 13”), and Section 22 of the CEA; and various claims under the common law.”
Fustok v. Conticommodity Servs., Inc., 618 F. Supp. 1069 (S.D.N.Y. 1985). “See Commodities Exchange Act §§ 13(a) and (b), 7 U.S.C. § 13c(a) (1976) and 7 U.S.C.A. § 13e(b) (Supp.”
— 7 U.S.C. § 13c(B) — 1 case
Commodity Futures Trading Comm'n v. Noble Wealth Data Info. Servs., Inc., 90 F. Supp. 2d 676 (D. Maryland 2000).
— 7 U.S.C. § 13c(a) — 47 cases
Commodity Futures Trading Comm'n v. Equity Fin. Grp. LLC, 572 F.3d 150 (3rd Cir. 2009). “Finally, the District Court concluded, Shimer is liable under 7 U.S.C. § 13c(a) for aiding and abetting Tech Traders’s violation of 17 C.”
Calle Gracey v. J.P. Morgan Chase & Co., 730 F.3d 170 (2d Cir. 2013). “This language tracks that of 7 U.S.C. § 13c(a), which establishes aiding and abetting liability generally under the CEA.”
United States Commodity Futures Trading Comm'n v. Hunter Wise Commodities, LLC, 21 F. Supp. 3d 1317 (S.D. Fla. 2014). “Count Thirteen, aiding and abetting under Section 13(a) of the Act, 7 U.S.C. § 13c, against Hunter Wise, Mr. Martin, and Mr.”
Anthony J. Bosco v. Robert B. Serhant, 836 F.2d 271 (7th Cir. 1988). “” Section 13(a), 7 U.S.C. § 13c(a), provided that “any person who .”
Kolbeck v. LIT Am., Inc., 923 F. Supp. 557 (S.D.N.Y. 1996).
— 7 U.S.C. § 13c(b) — 49 cases
Commodity Futures Trading Comm'n v. McDonnell, 332 F. Supp. 3d 641 (E.D.N.Y 2018). “Under Section 13(b) of the Act, 7 U.S.C. § 13c(b), an individual who possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of an entity may be liable as a controlling person of that entity, provided that the individual…”
United States Commodity Futures Trading Comm'n v. Kratville, 796 F.3d 873 (8th Cir. 2015). “” 7 U.S.C. § 13c(b). For liability to attach, the Commission must prove: (1) that a corporation violated the Act; (2) that the defendant “directly or indirectly” controlled that corporation; and (3) that the controlling person “did not act in good faith or knowingly induced,…”
Commodity Futures Trading Comm'n v. Sterling Trading Grp., Inc., 605 F. Supp. 2d 1245 (S.D. Fla. 2009). “11, which bar fraud in connection with commodity option transactions and suspend commodity option transactions not otherwise permitted under the regulations, are applicable to foreign currency transactions conducted by Defendants who are not proper counterparties, as are the…”
Brian Monieson v. Commodity Futures Trading Comm'n, 996 F.2d 852 (7th Cir. 1993). “Most important for this case, the complaint charged Monieson with liability as a “controlling person” of Furlett and Green-spon under Section 13(b) of the CEA, 7 U.S.C. § 13c(b), and with failure to supervise under Rule 166.”
United States Commodity Futures Trading Comm'n v. Hunter Wise Commodities, LLC, 21 F. Supp. 3d 1317 (S.D. Fla. 2014). “Count Thirteen, aiding and abetting under Section 13(a) of the Act, 7 U.S.C. § 13c, against Hunter Wise, Mr. Martin, and Mr.”
— 7 U.S.C. § 13c(c) — 1 case
Anthony J. Bosco v. Robert B. Serhant, 836 F.2d 271 (7th Cir. 1988). “” Section 13(a), 7 U.S.C. § 13c(a), provided that “any person who .”
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