The U.S. Commodity Futures Trading Commission on Aug. 12 filed a civil enforcement action against five entities and four individuals for engaging in a fraudulent scheme to solicit customers throughout the United States and elsewhere for the purported purpose of trading illegal, off-exchange binary options.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...