Ms. Thomsen is a partner in Davis Polk’s Litigation Department. [Full Bio]

There has been significant attention to the first major policy speech by the CFTC’s newly-minted Enforcement Division Director, James McDonald on September 25, 2017.  Mr. McDonald’s speech outlined the Enforcement Division’s updated approach to self-reporting and cooperation, as described in an enforcement advisory update issued to coincide with his speech
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Yesterday, the Commodity Futures Trading Commission brought an enforcement action against the operators of an alleged Ponzi scheme who, according to the allegations, collected approximately $600,000 from 80 investors in a pooled fund to invest in bitcoin under a high-frequency, algorithmic trading strategy. The operators instead allegedly misappropriated the funds
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In the August 25th episode of the CFTC podcast, CFTC Talks, the new Director of the CFTC’s Enforcement Division, James McDonald, discussed his priorities for the Division (transcript here), including providing incentives for entities to self-report non-compliance issues to the CFTC.

McDonald stressed that as part of
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In a closely watched case, the Seventh Circuit last week affirmed the felony conviction of Michael Coscia, a New Jersey high frequency trader, rejecting his arguments that the anti-spoofing provision in the Commodity Exchange Act under which he was charged is unconstitutionally vague and that the evidence in the
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