CFTC Enforcement Action
Representing a precious metals retailer in both the district court and the Ninth Circuit in a federal government enforcement action brought by the CFTC alleging off-exchange transactions and fraud. The lawsuit raises novel issues regarding the CFTC’s jurisdiction, including whether depository delivery of financed metals results in “actual delivery” under the Commodity Exchange Act and the scope of the CFTC’s anti-fraud jurisdiction. Also representing the company in a parallel class action.