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Title 7, AgricultureRelease 119-102

§6o Fraud and Misrepresentation by Commodity Trading Advisors, Commodity Pool Operators, and Associated Persons

Title 7 › CHAPTER 1 — COMMODITY EXCHANGES › § 6o

Last updated Aug 21, 2026|Official source

Summary

Makes it illegal for commodity trading advisors, commodity pool operators, and people who work for them to use the mail or any way of sending things between states (like phone or internet) to lie to, cheat, or trick clients or people thinking about becoming clients. They cannot use any scam, false practice, or business method that deceives clients. They also cannot say they are sponsored, recommended, or approved by the United States or its agencies. They may truthfully say they are registered under this law so long as that fact is not misrepresented.

Full Legal Text

Title 7, §6o

Agriculture, Source: USLM XML via OLRC

(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 person’s 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.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1983—Par. (1). Pub. L. 97–444 made the antifraud prohibition applicable to an associated person of a commodity trading advisor or a commodity pool operator. Par. (2). Pub. L. 97–444 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 person’s abilities” for “he” before “has been sponsored” and “his abilities”, respectively. 1978—Par. (1). Pub. L. 95–405 struck out “registered under this chapter” after “pool operator”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1983 AmendmentAmendment by Pub. L. 97–444 effective Jan. 11, 1983, see section 239 of Pub. L. 97–444, set out as a note under section 2 of this title.

Effective Date

of 1978 AmendmentAmendment by Pub. L. 95–405 effective Oct. 1, 1978, see section 28 of Pub. L. 95–405, set out as a note under section 2 of this title.

Effective Date

For

Effective Date

of section, see section 418 of Pub. L. 93–463, set out as an

Effective Date

of 1974 Amendment note under section 2 of this title.

Reference

Citations & Metadata

Citation

7 U.S.C. § 6o

Title 7, Agriculture

Last Updated

Aug 21, 2026

Release point: 119-102