Front running enforcement actions
This library records 9 enforcement actions tagged front running. Front running is trading ahead of a customer order to capture the price improvement that order will produce, which breaches a duty owed to that customer rather than falsifying any public price.
Actions are listed newest first. Each row links to a case page carrying the regulator's own release and, where one was published, the complaint. For how this technique works and what statute it engages, read the front running technique page.
- Actions
- 9
- Total penalties
- $1.7m
- Median penalty
- $100k
- Largest
- $1.5m
- Criminal parallel
- 33%
| Action | Agency | Filed | Penalty | Status |
|---|---|---|---|---|
| SEC v. Sean Wygovsky and Christopher Matthaei (front running, 2023) | SEC | 2023-03-31 | — | settled |
| SEC v. Lawrence Billimek and Alan Williams (front running, 2022) | SEC | 2022-12-20 | — | unknown |
| SEC v. Sergei Polevikov, et al. (front running, 2022) | SEC | 2022-08-17 | — | dismissed |
| CFTC v. Energy Broker and Its Owner (front running, 2019) | CFTC | 2019-10-01 | $1.5m | judgment |
| CFTC v. Block Trade Broker (front running, 2018) | CFTC | 2018-09-28 | — | filed |
| SEC v. Mizuho Securities USA LLC (front running, 2018) | SEC | 2018-07-23 | — | settled |
| SEC v. Deutsche Bank Securities Inc. (front running, 2016) | SEC | 2016-10-12 | $100k | judgment |
| SEC v. Gibson and Christopher M. (front running, 2016) | SEC | 2016-03-29 | — | unknown |
| CFTC v. Arya Motazedi (front running, 2015) | CFTC | 2015-12-03 | $100k | judgment |