On November 8th, the Commodity Futures Trading Commission (the "CFTC") filed an enforcement action charging Matthew Marshall Taylor with defrauding his employer, a futures commission merchant, by intentionally concealing the true size, as well as the risk and potential profits or losses associated with the S&P 500 e-mini futures contracts position in a firm account traded by Taylor. The civil complaint alleges that for several months Taylor, while trading the firm account, entered fabricated e-mini futures trades into the FCM's manual trade entry system, thus concealing and misrepresenting the size of his $8.3 billion e-mini futures position within his employer's internal systems. Additionally, Taylor allegedly obstructed his employer's discovery of his scheme by, among other things, providing false, misleading or deceptive information and reports to the FCM's employees about the FCM's e-mini futures position, risk, and P&L. Taylor's e-mini futures trades and his concealment resulted in realized losses to the FCM of approximately $118,440,000. CFTC Press Release.