CFTC Whistleblower Lawyers

The CFTC whistleblower program was created in 2010 when Congress passed the Dodd-Frank Act and President Obama signed the bill into law. The program offers rewards of between 10 and 30 percent to eligible whistleblowers following enforcement actions resulting from tips leading to the recovery of more than $1 million. It is similar to the SEC whistleblower program, with a few key differences.

Our whistleblower attorneys can assist you with evaluating your options and explain more about the CFTC program. Eric Young, a partner at our firm, was one of only seven individuals and organizations to comment on the proposed change in regulations governing the CFTC whistleblower program in September 2016. He was also a speaker for the Knowledge Congress live webinar on CFTC Financial Market Reforms in 2015.

Investigations

The CFTC program is not like the False Claims Act. It requires the agency to prosecute the enforcement action against the company. So one of the best ways to figure out whether it is a case they will be interested in pursuing is to look at the types of actions they have pursued in the past and the misconduct they are currently investigating. We have listed some representative examples below for you. Obviously, the Government is always looking for new misconduct, so don’t let the lack of a past enforcement action in your area stop you from contacting us. We will investigate your evidence and determine whether we think it is something that the CFTC would be interested in pursuing.

Existing Investigations

The CFTC is engaged in several major investigations. These investigations typically involve multiple companies in an industry and may extend for years before a decision is made to pursue an enforcement action or close the investigation. We have currently identified the following areas of investigation:

Bitcoin

ISDAfix

Off-Exchange Metals

Pool Operator Fraud

Position Limit Violations

Price Manipulation

Frequent Enforcement Actions

These are some of the enforcement actions that the CFTC brings on a regular basis:

  • Fraudulent misrepresentations
  • Misappropriation
  • Embezzlement
  • Non-competitive trades
  • Minimum capital requirements
  • Record-keeping
  • Customer segregated funds
  • Failure to supervise employees in operations or trade processing

If you have evidence of a financial institution, trader or company engaged in a violation of the Commodity Exchange Act or the CFTC rules, please contact us for additional information about reporting it to the U.S. Government.

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