CFTC v. EOX Holdings LLC and Andrew Gizienski (insider trading, 2018)

Judgment entered

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In September 2018 the CFTC sued broker EOX Holdings and associated person Andrew Gizienski over alleged misuse of confidential customer order information. After a five-day trial a Houston jury found both liable in August 2022, and on 15 August 2022 the court entered a final judgment with $7.49 million in civil penalties, injunctions and a 120-day trading and registration ban on Gizienski.

The record

What was ordered

Civil penalty

$7.5m

Disgorgement

—

Prejudgment interest

—

Total relief

$7.5m

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Commodity Futures Trading Commission announced this matter on September 28, 2018 as release 7811-18. The complaint, filed in the U.S. District Court for the Southern District of New York, names EOX Holdings LLC, an introducing broker, and Andrew Gizienski, one of its associated persons.

As alleged, from about August 2013 to May 2014 Gizienski exercised discretion over a friend's account while still brokering block trades on ICE Futures US for other EOX customers, and disclosed to the friend confidential information about those customers, including their identities, trading and positions, in breach of a duty owed to them. The complaint further alleges he traded the account on the basis of that information. It also alleges that EOX waived a policy against brokers holding discretion over customer accounts, and failed to supervise him or to keep required customer records.

This library tags the matter as insider trading, the label the CFTC itself uses for the misuse of nonpublic customer information. It is not tagged as front running, because the release describes misuse of information about other customers rather than trading ahead of a customer's own order. The tagging is ours, not the regulator's.

The CFTC's August 2022 press release and the court's final judgment show the case went to trial. A jury in the Southern District of Texas found Gizienski and EOX liable for taking the other side of customers' orders 65 times and disclosing customers' confidential order information five times, and found EOX liable for failing to supervise him and to keep required records. The final judgment of 15 August 2022 awards $7,000,000 in civil penalties against both jointly and severally and $490,000 against EOX, which sum to the $7.49 million recorded here, with permanent injunctions against both. The press release adds that the judge imposed a 120-day trading and registration ban on Gizienski and ordered EOX to adopt adequate policies within 60 days. The judgment is number H-19-2901 in the Houston court, while this record carries the Southern District of New York as the court of the 2018 complaint; we did not check the transfer or any appeal.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2018-09-28 CFTC release published
2. 2022-08-09 Jury verdict against Gizienski and EOX after five-day trial
3. 2022-08-15 Final judgment entered ($7.49 million in civil penalties, injunctions)

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• CFTC release
• CFTC press release 8574-22 (jury verdict)
• Final judgment: CFTC v. EOX Holdings and Gizienski

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.