17 CFR § 32.4 - Fraud in connection with commodity option transactions.

---
identifier: "/us/cfr/t17/s32.4"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "17 CFR § 32.4 - Fraud in connection with commodity option transactions."
title_number: 17
title_name: "Commodity and Securities Exchanges"
section_number: "32.4"
section_name: "Fraud in connection with commodity option transactions."
chapter_name: "COMMODITY FUTURES TRADING COMMISSION"
part_number: "32"
part_name: "REGULATION OF COMMODITY OPTION TRANSACTIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "7 U.S.C. 1a, 2, 6c, and 12a, unless otherwise noted."
regulatory_source: "77 FR 25338, Apr. 27, 2012, unless otherwise noted."
cfr_part: "32"
---


# 32.4 Fraud in connection with commodity option transactions.

In or in connection with an offer to enter into, the entry into, or the confirmation of the execution of, any commodity option transaction, it shall be unlawful for any person directly or indirectly:

(a) To cheat or defraud or attempt to cheat or defraud any other person;

(b) To make or cause to be made to any other person any false report or statement thereof or cause to be entered for any person any false record thereof; or

(c) To deceive or attempt to deceive any other person by any means whatsoever.