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LegalText 7 U.S.C. § 6o Fraud and misrepresentation by commodity trading advisors, commodity pool operators, and associated persons us united_states_code code_section 7 AGRICULTURE 1 COMMODITY EXCHANGES 6o 7 U.S.C. § 6o current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc07@119-100.zip /us/usc/t7/s6o data/legal/raw/us/code/title-07/usc07.xml d1948e230c2de007ca297d67cec89030502c27ba1183988a68fcf079e22ee659 50edab1679a711653797362c0aeb8f2273303fe473fb7fa16df1ee76bdd6e984 8bf044661ff4f4c75f15fcf1cdfce63866b9412fcd1505dc8ada1704833871bf 2026-07-04 official
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7 U.S.C. § 6o - Fraud and misrepresentation by commodity trading advisors, commodity pool operators, and associated persons

Text

(1) It shall be unlawful for a commodity trading advisor, associated person of a commodity trading advisor, commodity pool operator, or associated person of a commodity pool operator, by use of the mails or any means or instrumentality of interstate commerce, directly or indirectly—

(A) to employ any device, scheme, or artifice to defraud any client or participant or prospective client or participant; or

(B) to engage in any transaction, practice, or course of business which operates as a fraud or deceit upon any client or participant or prospective client or participant.

(2) It shall be unlawful for any commodity trading advisor, associated person of a commodity trading advisor, commodity pool operator, or associated person of a commodity pool operator registered under this chapter to represent or imply in any manner whatsoever that such person has been sponsored, recommended, or approved, or that such persons abilities or qualifications have in any respect been passed upon, by the United States or any agency or officer thereof. This section shall not be construed to prohibit a statement that a person is registered under this chapter as a commodity trading advisor, associated person of a commodity trading advisor, commodity pool operator, or associated person of a commodity pool operator, if such statement is true in fact and if the effect of such registration is not misrepresented.

(Sept. 21, 1922, ch. 369, § 4o, as added Pub. L. 93463, title II, § 205(a), Oct. 23, 1974, 88 Stat. 1399; amended Pub. L. 95405, § 10, Sept. 30, 1978, 92 Stat. 870; Pub. L. 97444, title II, § 214, Jan. 11, 1983, 96 Stat. 2305.)

Notes

Editorial Notes

Amendments1983—Par. (1). Pub. L. 97444 made the antifraud prohibition applicable to an associated person of a commodity trading advisor or a commodity pool operator. Par. (2). Pub. L. 97444 made the misrepresentation prohibition applicable to an associated person of a commodity training advisor or a commodity pool operator, authorized registration statements of such persons, and substituted “such person” and “such persons abilities” for “he” before “has been sponsored” and “his abilities”, respectively. 1978—Par. (1). Pub. L. 95405 struck out “registered under this chapter” after “pool operator”.

Statutory Notes and Related Subsidiaries

Effective Date of 1983 AmendmentAmendment by Pub. L. 97444 effective Jan. 11, 1983, see section 239 of Pub. L. 97444, set out as a note under section 2 of this title.

Effective Date of 1978 AmendmentAmendment by Pub. L. 95405 effective Oct. 1, 1978, see section 28 of Pub. L. 95405, set out as a note under section 2 of this title.

Effective DateFor effective date of section, see section 418 of Pub. L. 93463, set out as an Effective Date of 1974 Amendment note under section 2 of this title.