If you work in any area of commodity futures trading and see or know of wrongdoing within your industry, you could receive a substantial reward for your information. The Commodity Futures Trading Commission (CFTC) has a whistleblower program for commodity trade insiders who can provide material evidence or testimony of company violations involving the Commodity Exchange Act (CEA) and other securities and investment regulations. Continue reading
Articles Posted in CFTC Whistleblower
CFTC Issues Warning About Romance Scams Involving Commodities and Derivatives
Although we most frequently blog about the SEC and its whistleblower program, other federal agencies also have their own. One of those agencies is the US Commodity Futures Trading Commission (CFTC), which oversees all types of futures markets. This independent agency governs derivative markets, which includes futures, swaps, and some types of options.
Begun as a trading exchange for agricultural commodities, the CFTC now oversees a wide variety of commodities, including digital, such as cryptocurrency and foreign exchange markets (FOREX) that deal in foreign currency exchange.
There are legitimate ways for experienced investors to delve into digital assets like these. But many are led to believe that they are investing in something digital when they are actually being defrauded. Increasingly, it’s one by one of the oldest methods in the book: fraudulent dating and romance.
CFTC Whistleblower Award – April 2022
The Commodities Futures Trading Commission (CFTC) recently awarded a bounty of $10 million to a whistleblower who offered original information voluntarily. The information led to the opening of an investigation and a subsequent successful enforcement action.
According to the order, the individual provided the information properly via a Form TCR that involved information previously unknown to the CFTC, and in violation of the Commodity Exchange Act (CEA.) The whistleblower was under no obligation to provide this information, and provided it at the outset of the investigation, when the CFTC was unaware of the ongoing conduct. Continue reading
CFTC Awards $625K To Four Whistleblowers
The Commodity Futures Trading Commission (CFTC) has awarded a $625,000 bounty to four whistleblowers who provided information and assistance in an investigation.
A total of nine claimants submitted award applications for this enforcement action. Of that number, only four received awards. Claimants 2, 3, 4, and 6 received bounties from the civil monetary penalties levied against the two defendants involved in the enforcement action. Claimant 4 offered the highest level of assistance and cooperation and received the largest portion of the bounty. All four offered substantial assistance that included providing names and other information which supported the Commission’s action against the defendants. Continue reading
CFTC Whistleblower Earns Record $200M Award For Providing Information
The Commodities Futures Trading Commission (CFTC) announced that almost $200 million was awarded to a whistleblower who provided information that contributed to an open investigation and led to successful actions by the CFTC, another U.S. federal regulator, and a foreign regulator. Continue reading
CFTC Issues Whistleblower Alert On Blowing The Whistle On Corrupt Practices
While you may be aware of the SEC’s whistleblower program, which has awarded hundreds of millions of dollars to those offering information and assistance to the agency in cracking cases and successful enforcement actions, you may not know that the Commodity Futures Trading Commission (CFTC) also has a whistleblower program. Continue reading
CFTC Strengthens Whistleblower Protections By Withholding Award Amount
The Commodities Futures Trading Commission (CFTC) has announced a whistleblower award without revealing the dollar amount of the award in order to protect the whistleblower’s identity.
The CFTC may be making a habit of withholding the amount of whistleblower awards. Whistleblower attorney Scott Silver calls it “An important additional step that insulates whistleblowers from being identified and facing personal and professional retaliation.” Continue reading
CFTC Awards Over $1M to Whistleblower For Helping To Expose Scheme
The CFTC (Commodities Futures Trading Commission) has announced that it will award over $1,000,000 to a whistleblower for providing a tip that helped to expose a scheme that violated the CEA (Commodity Exchange Act).
According to the press release, the whistleblower gave information first through their employer’s compliance program to another regulator, then to the CFTC.
The scheme isn’t named, but the release states that the tip led to charges being filed by the CFTC. Continue reading