CFTC imposes trading and registration bans on former FTX executives Caroline Ellison, Gary Wang

Ellison faces a five-year trading ban and 10-year registration ban.

Former Alameda CEO Caroline Ellison and former FTX co-founder Gary Wang have received additional sanctions from the CFTC as part of the agency’s resolution of its enforcement actions related to the FTX collapse.

A US District Court for the Southern District of New York ordered Ellison and Wang to continue cooperating with the regulator and barred both from trading for five years, while also imposing registration bans lasting 10 years for Ellison and eight years for Wang, according to an Aug. 19 release.

The supplemental orders follow December 2022 consent orders that found Ellison and Wang liable for CFTC fraud charges and permanently enjoined them from violating the agency’s antifraud rules.

The regulator said it is not seeking restitution, disgorgement or civil monetary penalties at this stage, citing the pair’s cooperation and their guilty pleas in parallel criminal cases, along with the over $11 billion forfeiture order they are jointly and severally liable for.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

The supplemental orders follow December 2022 consent orders that found Ellison and Wang liable for CFTC fraud charges and permanently enjoined them from violating the agency’s antifraud rules.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.