On June 17, 2024, the U.S. Commodity Futures Trading Commission (the “CFTC”) reached a $55 million settlement with Trafigura Trading LLC, marking a significant aggressive shift in the agency’s approach to whistleblower protections. This case sets a new precedent in the CFTC’s enforcement program and underscores the CFTC’s commitment to protecting whistleblowers. Continue reading
Articles Posted in CFTC Whistleblower
CTFC Awards Over $4.5M To Whistleblower
The Commodities Futures Trading Commission (CTFC) announced a whistleblower award of over $4.5 million for information and assistance that led to a successful enforcement action. The individual received an unspecified percentage of the monies collected in fines and sanctions. Continue reading
CFTC Awards $1.25 Million To Whistleblower
The latest $1.25 million award from the Commodities Futures Trading Commission (CFTC) goes to a whistleblower who first reported misconduct internally to their employer, who then ignored the report. Following 120 days of the company’s inaction, the individual submitted the information to the CFTC, who immediately opened an investigation. Continue reading
CFTC Names Brian Young New Director Of Its Whistleblower Office
The Commodity Futures Trading Commission’s Whistleblower Office has a new director, Brian Young. The announcement was made recently by CFTC’s chairman, Rostin Behnam. He comes from the Department of Justice (DOJ), where he was previously the acting director of litigation for the Antitrust Division. Continue reading
CFTC Awards $18M Bounty To Whistleblower
The Commodities Futures Trading Commission (CFTC) recently announced the award of $18 million to a single whistleblower who provided substantial assistance to the agency. This information led to a successful CFTC enforcement action as well as a related action with another federal agency. The whistleblower met with Division of Enforcement (DOE) staff on multiple occasions to discuss their concerns. Information from the individual was “significant in amount and quality,” according to the CFTC press release. Continue reading
CFTC Issues Award Of $300,000 To Whistleblower
The Commodity Futures Trading Commission (CFTC) announced an award of more than $300,000 to a whistleblower who submitted information to the agency regarding a company’s misconduct.
Information from the whistleblower was “precise,” and described exactly the activity involved, leading to the CFTC’s Enforcement Division to open an investigation. The individual provided continual assistance during the investigation, offered additional evidence along with interpretations and explanations for CFTC staff. As a result, CFTC staff were able to move forward with the investigation while conserving resources. Continue reading
CFTC Awards $15M To Two Whistleblowers
In a recent press release, the Commodities Futures Trading Commission (CFTC) announced $15 million in bounties awarded to two whistleblowers for individual cases.
In the first case, a whistleblower affiliated with a company notified the CFTC of activity that was harming its customers. The CFTC opened an investigation and discovered the information to be credible and original. The individual offered continual assistance, saving CFTC staff resources and time. This included assisting staff with interpreting vital evidence, including another witness to corroborate the claims. Continue reading
CFTC Seeking Whistleblower Tips On Carbon Credit Market Fraud
The Commodity Futures Trading Commission has issued a press release regarding fraud surrounding the buying and selling of carbon credits, which fall under the category of commodities. The CFTC is interested in whistleblower tips about anyone engaged in misconduct in the sale or trade of these credits. Employees, investors, and anyone else who finds fraud or believes it may exist is encouraged to get in touch with the CFTC. Continue reading
What You Need To Know About The CFTC’s Whistleblower Program
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
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.