ATTORNEY ADVERTISING
Blog Name
SEC Whistleblower Lawyer Blog

Articles Posted in CFTC Whistleblower

by

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.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

by

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. The Claims Review Staff (CRS) decided to deny award applications of claimants 1, 5, 7, 8, and 9. These claimants failed to meet the program’s requirements. Specifically, CRS found that Claimant 1’s wasn't voluntary, because it was provided after they received multiple requests including a subpoena from CFTC staff. After receiving the preliminary determination, Claimant 1 requested the records supporting that determination. CFTC Whistleblower staff provided the material shortly thereafter. Claimant 1 then submitted a letter contesting the preliminary determination. Because this claimant could not offer any new information to support their position, and nothing in the record indicated the voluntary submission of information, the request was again denied. This claimant provided the information only after multiple requests from CFTC. Therefore, the claimant was not eligible to receive an award in this case.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

by

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. A press release from the CFTC stated that the information provided by the whistleblower “led the CFTC to important, direct evidence of wrongdoing. In order to qualify for an award, a whistleblower who significantly contributed to the success of an enforcement action must demonstrate that there is a “meaningful nexus” between the information provided and the CFTC’s ability to successfully complete its investigation, and to either obtain a settlement or prevail in a litigated proceeding.” The CFTC has given whistleblower awards for enforcement actions that have resulted in sanctions of over $3 billion. The CFTC’s whistleblower program was created under the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010. The program’s first award was in 2014, and the CFTC has awarded mover $300 million to whistleblowers.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

by

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. Like the SEC’s program, monetary awards paid to whistleblowers come from the Congressional-established CFTC Customer Protection Fund. The fund is solely financed from monetary sanctions paid to the CFTC by violators of the Commodities Exchange Act (CEA.) Corrupt Practices Bulletin The CFTC recently published a news release regarding whistleblowers and corrupt practices. That is, improper payments or other incentives intended to influence government agents or officials. Commonly known as “bribes” or “kickbacks,”  these corrupt practices may include: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

by

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.” CFTC Whistleblower Award On September 4, 2020, the CFTC announced that a whistleblower provided a tip that helped to stop fraudulent activity that was harming investors. According to the CFTC’s website, their whistleblower program “provides monetary incentives to individuals who report possible violations of the Commodity Exchange Act that lead to a successful enforcement action, as well as privacy, and anti-retaliation protections for whistleblowers.”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

by

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 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

Badges
Contact Information
Silver Law Group
11780 W Sample Rd
Coral Springs, FL 33065
Phone: 954.755.4799 Toll Free: 800.975.4345
The Law Firm of David R. Chase, P.A.
1700 E Las Olas Blvd
#305
Fort Lauderdale, FL 33301
Phone: 954.920.7779
By Appointment Only
229 W 36th St 8th Floor
New York, NY 10018
Phone: 212.377.5227
By Appointment Only
4755 Technology Way #205
Boca Raton, FL 33431
Phone: 561.665.8613
ATTORNEY ADVERTISING

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. The contact form sends information by non-encrypted email, which is not secure. Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship.

Copyright © 2016 – 2024, Silver Law Group
JUSTIA Law Firm Blog Design