The U.S. Commodity Futures Trading Commission has reached settlements with former FTX executives Caroline Ellison and Gary Wang and issued consent orders that permanently bar both from trading in CFTC-regulated markets and from registering with the agency. According to CFTC filings, the agreements do not add new civil monetary penalties, but they do impose permanent restrictions on the two former executives’ future participation in activities under the regulator’s jurisdiction. The action is part of the civil regulatory fallout from the collapse of FTX and is aimed at holding individuals tied to the case accountable. Ellison and Wang had previously cooperated as key witnesses in the criminal trial of FTX founder Sam Bankman-Fried. The settlements show that U.S. regulators are still dealing with the legal and regulatory consequences of the exchange’s failure.
The U.S. Commodity Futures Trading Commission, or CFTC, has reached settlements with former FTX executives Caroline Ellison and Gary Wang and issued consent orders permanently barring both from trading in CFTC-regulated markets and from registering with the agency.
According to CFTC filings, the settlements do not impose any new civil monetary penalties. They do, however, permanently prohibit Ellison and Wang from taking part in market activity overseen by the CFTC.
Permanent restrictions under the consent orders
The orders mean the two former executives will not be allowed to register with the CFTC in the future, participate in trading on regulated markets, or engage in certain market activity that falls within the agency’s jurisdiction.
Part of the post-FTX civil enforcement process
The settlements are part of the civil regulatory actions that followed the collapse of FTX and are intended to hold individuals tied to the case accountable.
Ellison and Wang had previously cooperated as key witnesses in the criminal trial of FTX founder Sam Bankman-Fried. NewsBTC said the move shows regulators are still handling the aftermath of the exchange’s collapse.
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