Commodities Futures Trading Commission (CFTC) Whistleblowers
Atlanta Whistleblower Lawyer for CFTC Cases
If you know of someone who is
breaking the rules of the U.S. Commodities Futures Trading Commission (CFTC), then
you may be entitled to 10 – 30% of the monetary sanctions that the CFTC levies against the lawbreaker. If the CFTC acts on a tip
you provide, and fines the company or the individual that is breaking
the law at least $1,000,000, then as a CFTC whistleblower you will be
entitled to 10%-30% of the monetary sanctions that the CFTC charges to
the company that violated the rules.
The CFTC is interested in anything related to fraud in connection with
derivatives, or manipulation related to derivatives, or abusive practices
or systemic risk related to derivatives that are subject to the Commodity
Exchange Act. You may be able to help deter and lower the risk of fraud
in the future.
Call an Atlanta CFTC whistleblower lawyer today at (888) 581-9132 if you believe you have information that someone
is violating the CFTC rules.
Understanding the Dodd-Frank Act
Under § 748 of the
Dodd-Frank Act Congress provided for “Commodity Whistleblower Incentives And Protection.”
Under the Act, Congress told the CFTC that it must reward whistleblowers
who tip the agency about companies or individuals that are violating the
rules and regulations of the CFTC, which relate to the trading of commodities
futures and options.
Under the Act, the CFTC whistleblower is entitled to receive a percentage
of the “monetary sanctions” that are charged to the person
or company that violated the CFTC rules.
The Act says that “monetary sanctions” include any of the following
that are charged in violation of the CFTC rules:
You can qualify as a whistleblower if you follow the rules set out for
reporting to the CFTC and you provide
original information. If you think you know about Commodities and Futures violations, you may
be entitled to a percentage of the penalties or fines charged against
What Is Considered Original Information?
The Act defines “original information” as independent knowledge
or analysis of the whistleblower that is not known to the Commission,
unless the whistleblower is the original source of the information.
According to the statute, “original information” does not include
information that is “exclusively derived from an allegation made
in a judicial or administrative hearing, in a governmental report, hearing,
audit, or investigation, or from the news media, unless the whistleblower
is a source of the information.” The Act specifically provides that
more than one person may be a whistleblower under the CFTC whistleblower
The CFTC has discretion to determine the amount of the reward, but Congress
has provided that it must consider:
- “The significance of the information” that the whistleblower provided,
- ‘‘The degree of assistance” that the whistleblower’s
lawyer or the whistleblower gave to the agency,
- The CFTC’s interest “in deterring violations of the act (including
regulations under the act) by making awards to whistleblowers who provide
information that leads to the successful enforcement of such laws,”
- And other factors the CFTC chooses to consider.
Congress created the U.S. Commodities Futures Trading Commission (CFTC)
in 1974 to regulate U.S. commodities futures and option markets.
Helping You Report CFTC Fraud in Atlanta, GA
The CFTC is an independent agency. According to the agency, the CFTC’s
“mission is to protect market users and the public from fraud, manipulation,
abusive practices and systemic risk related to derivatives that are subject
to the Commodity Exchange Act, and to foster open, competitive, and financially
sound markets.” The CFTC is set up under
7 U.S.C. Chapter 1.
We at The Wallace Law Firm, LLC can help protect you in your whistleblower
case and make sure that your interests are not compromised.
Find out more about CFTC whistleblowing by
calling (888) 581-9132 today.
Consultations are FREE.