Cftc whistleblower rules. It plays a crucial role in exposing and preventing .

Cftc whistleblower rules 5 million for whistleblowers who, collectively, provided information that led to the success of multiple enforcement actions, brought by the CFTC and another authority. Under the SEC and CFTC Whistleblower Program rules, individuals who blow the whistle to FINRA can qualify for awards from the SEC and CFTC as long as they file a formal disclosure with the SEC within 120 days of blowing the whistle to FINRA or with the CFTC within 180 days. On May 22, 2017, the U. In addition to offering protection to whistleblowers, such as confidentiality, they are also critical in CFTC’s enforcement efforts, providing incentives for individuals who report violations With the SEC, and now CFTC, increasing whistleblower impediment enforcement, public and private companies should review their programs, agreements, and policies to ensure compliance with whistleblower protections. § 26(h)(2)) and Section 165. News; Events; Whistleblower Alerts; Things To Know; The term "original information," as defined in Section 15 U. Since issuing its first award in 2014, the CFTC has granted whistleblower awards amounting to almost $350 million. 19(b), for allegedly impeding whistleblower reporting by requiring employees to enter into confidentiality agreements that did not explicitly confirm employees’ freedom to communicate with law enforcement or regulators. Anyone with information related to potential violations of the CEA or the CFTC’s rules and CFTC Enforcement Overview. Mail: Commodity Futures Trading Commission Whistleblower Office 1155 21st Street, NW Washington, DC 20581 Top Links. Anyone with information related to potential violations of the CEA or the CFTC’s rules and On May 22, 2017, the Commodity Futures Trading Commission (CFTC) unanimously approved amendments to its whistleblower rules that strengthen anti-retaliation protections for whistleblowers CFTC Whistleblower Rule. Since issuing its first award in 2014, the CFTC has awarded more than $300 million to whistleblowers. Whistleblower. Public Statements & Remarks: Commissioner Kristin N. ; The Whistleblower Rules define a whistleblower as Please refer to the attached Submission Procedures, and Completion Instructions as needed to help you complete this form. Instructions & Remarks. \65\ Consistent with this language, Proposed Rule 165. Commodity whistleblower incentives and protection (a) Definitions. § 78u-6(a)(3) of the Dodd-Frank Act, means "information that is derived from the independent knowledge or analysis of a whistleblower; is not known to the under the CFTC’s Whistleblower Rules. CFTC Whistleblower Rules, 17 C. The CFTC Whistleblower Program seeks information about violations of the Commodity Exchange Act (CEA), or the rules or regulations thereunder. About the CFTC’s Whistleblower Program. If you have information about a violation of the Commodity Exchange Act or Commission regulations, you can report such violations or any other suspicious activities to our Division of Enforcement by submitting either a whistleblower Form TCR or a The CFTC’s Whistleblower Program, created by the Dodd-Frank Act, provides monetary incentives to individuals who come forward to report possible violations of the Commodity Exchange Act. Fax Number (202) 418-5975. CFTC Rule 165. BEFORE this step, be sure: You have identified a potential violation of the Commodity Exchange Act; You understand the confidentiality and anti-retaliation protections provided in the Whistleblower Rules; The CFTC welcomes tips relating to potential wrongdoing affecting the U. whistleblower programs over the past year, (1) the Department of Justice (“DOJ”) introduced a three-year pilot program that offers monetary awards for reports relating to certain specific types of corporate misconduct; (2) the annual reports for the Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Washington, D. The laws authorizing CFTC’s activities and the regulations issued by CFTC to carry out those activities, as well as related rulemaking, enforcement, and adjudicatory references. Apr. 3 Whistleblower Incentives and Protection, 76 Fed. Whistleblower Program The CFTC whistleblower program has been a remarkable success story. 19(b), which was adopted in 2017 and prohibits companies from taking “any action to impede -5- CFTC Issues Final Rules to Expand Its Whistleblower Authority June 5, 2017 ENDNOTES 1 Whistleblower Incentives and Protection, 76 Fed. 53172 Federal Register/Vol. 8. 3038–AD04, 75 FR 75728 (Dec. The CFTC publishes in the Federal Register publishes proposed rules, final rules, meeting announcements, and other notices. Learn more about the CFTC’s market surveillance efforts in the Industry Oversight section. While the CFTC has yet to bring any enforcement actions under its anti-impediment rule, the rule text is nearly identical to the SEC’s. Commodity Futures Trading Commission (CFTC) voted 4-1 in favor of adopting final regulations implementing its Whistleblower Incentives and Protection program. 8922-24, Rulemaking concerning commodity whistleblower incentives and protection under the provisions of the Dodd- The Final Rules will be effective no later than 60 days from publication in the Federal Register. Commodity Futures Trading Commission (“CFTC”) recently announced a first-of-its-kind enforcement action under CFTC Rule 165. It demonstrates the transformative effect a well-run modern whistleblower award program can have on the enforcement efforts of a regulatory agency.   The award is the first made by the CFTC’s Whistleblower Program to a whistleblower living in a foreign country and the sixth award to a whistleblower rules . 165 (2023), promulgated pursuant to Section 23 of the Commodity Exchange Act (“CEA” or “Act”), 7 U. 165. 19(b) was added “to prohibit the enforcement In relevant developments in U. registered futures associations . The CFTC oversees the U. No. In re BlackRock are not CFTC rules or regulations, and the Commission has neither approved nor disapproved them. § 26) and Sections 922-24 (Securities Exchange Act) (15 U. The law is nearly identical to the SEC whistleblower law, and the two agencies cooperate on investigations. The action was based on the company’s use of employment and separation agreements barring disclosure of its confidential information with third parties, without carve-outs About the CFTC’s Whistleblower Program. CHAPTER I—COMMODITY FUTURES TRADING COMMISSION; PART 165—WHISTLEBLOWER RULES; 17 CFR Part 165 - PART 165—WHISTLEBLOWER RULES . — The Commodity Futures Trading Commission today announced an approximately $1. In this section: (1) Covered judicial or administrative action. The CFTC alleged the company violated the whistleblower rule in Regulation 165. The more specific, credible, and timely the complaint, the more likely the Commission will open an investigation. F. 166. Both items provide detailed information about the program and The CFTC's Whistleblower Program provides monetary incentives to individuals who report possible violations of the Commodity Exchange Act that lead to a successful enforcement whistleblower provided original information that led to the successful enforcement of a judicial or administrative action, or related action, in the following circumstances: (1) The whistleblower 1. gov; Email Subscriptions; FAQs; Things To Know; and Rules; News, Events, and Whistleblower Alerts . § 78u-6). CEA. or the rules and regulations thereunder. 14. BEFORE this step, be sure: You have submitted a tip, complaint, or referral to the Whistleblower Office; The CFTC has published a Notice of Covered Action associated with your tip, or there is a final judgment in a Related Action eligible for an award associated with your tip; The 90-day time limit from the publishing of the Notice of Covered Action or the date of a final order in a Related On March 26, the Commodity Futures Trading Commission (CFTC) posted a Notice of Covered Action (NCA) for a $2. While the CFTC’s Whistleblower Rules were originally adopted in 2011, it was a rulemaking in 2017 that amended the Whistleblower Rules to add the provision in Regulation 165. “42% of the CFTC’s enforcement actions involve whistleblowers, thus the whistleblower program is absolutely crucial to the ability of the CFTC to carry out its mission of rooting out The CFTC’s Whistleblower Program was created under Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. 6, 2010). In FY 2023, the CFTC granted seven applications for whistleblower awards, totaling approximately $16 million, for individuals who voluntarily provided original The CFTC Whistleblower Program offers rewards of 10%–30% for Some states have laws and ethical rules regarding solicitation and advertisement practices by attorneys and/or other professionals. § 165. Under the Dodd-Frank Act, whistleblowers that voluntarily provide the CFTC with original information about violations of the CEA that leads the CFTC to bring a successful enforcement action The CFTC’s Settlement. — The Commodity Futures Trading Commission today announced it is awarding nearly $4 million to two whistleblowers who provided information leading to the successful enforcement of a covered action. • In section 748 of the Dodd-Frank Act, Congress amended the CEA by adding section 23, which directs the May 22, 2017 CFTC Strengthens Anti-Retaliation Protections for Whistleblowers and Enhances the Award Claims Review Process Washington, DC – The U. It plays a crucial role in exposing and preventing The CFTC also took enforcement action for the first time against a company for impeding whistleblower communications with the CFTC in violation of its whistleblower rules. § 26. 165/Thursday, August 25, 2011/Rules and Regulations 1 7 U. | January 3 rd, 2025 — For years, the Commodity Futures Trading Commission (CFTC) Whistleblower Office has grappled with a funding crisis as a direct result of the program’s resounding success. The Whistleblower Program was created under Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The action was based on the company’s use of employment and separation agreements barring disclosure of its confidential information with third parties, without carve-outs Those who report securities or commodities fraud to a self-regulatory organization (SRO) may be eligible for a whistleblower award under SEC and CFTC rules. Reg. customer protection rules . The Commission’s proposing release for those amendments specifically stated that Regulation 165. CFR ; prev | next § 165. 170. For more information, see Section 23(h)(2) of the Commodity Exchange Act (7 U. " The CFTC provides instructions for individuals who want to report fraud in each individual section. Washington, D. 1 to 171. 15(b)] Final Rules Regarding Contents of Record for Award The U. rules relating to review of national futures association decisions in disciplinary, membership denial, Washington, D. Rules. Forms. Commodity Futures Trading Commission (“CFTC” or the “Commission”) adopted several additions to its whistleblower rules. The Claims Review Staff will evaluate each application for an award related to the same Covered Action or Related Action. The NCA signals that the Commission is now accepting whistleblower award claims for the case. gov; Office of The Commodities Futures and Trading Commission is following in the Securities and Exchange Commission’s footsteps by examining potential impediments to would-be whistleblowers. Or, to submit the form by mail or facsimile, print out the Form WB-APP and mail or fax the completed form to: CFTC, Whistleblower Office, 1155 21st Street, NW, Washington, DC 20581. Information from both whistleblowers formed the basis for the CFTC's investigations underlying the covered action. [165. Kohn. (866-366-2382), file a tip or complaint online, or contact the Whistleblower Office. Dodd-Frank Act Provision Creating CFTC Whistleblower Reward Program §26. ” The agency meets this requirement by educating customers about their rights, protections, and how Section 23 of the Commodity Exchange Act, entitled ‘‘Commodity Whistleblower Incentives and Protection,’’ requires the Commission to pay awards, subject to certain limitations and attorney conduct rules; (4) Because the whistleblower was an [Rule 165. He played a key role in the CFTC’s efforts to protect whistleblowers by managing and implementing a major redraft of the CFTC’s whistleblower rules to further harmonize them with the SEC’s rules, including enhancing anti-retaliation protections for whistleblowers and allowing the CFTC to take action against persons seeking to prevent or impede whistleblowers from The significant provisions of the Commodity Exchange Act’s whistleblower law are: The ability of a qualified whistleblower to obtain a financial reward is similar to other qui tam reward laws, including the False Claims Act and the IRS whistleblower program. For detailed information about the program, please read . Commodity Exchange Act & Regulations; How Rules Are Made; Holding Wrongdoers Accountable; Find information about CFTC's Whistleblower Program Learn More Created with Sketch. The Whistleblower Rules (17 C. Created by the Dodd-Frank Act, both the CFTC and SEC whistleblower programs offer financial rewards to whistleblowers whose information and assistance leads to government sanctions totaling more than $1 million. This part 165 describes the whistleblower program that the Commission intends to establish to implement the provisions of Section 23, and explains the procedures the whistleblower will need to follow in order to be eligible for an award. One whistleblower About the CFTC’s Whistleblower Program. 5 million for internally reporting significant wrongdoing, which led the company to self-report to the SEC within 120 days. (2006). The recent whistleblower actions described below highlight that it is important for persons subject to SEC or CFTC jurisdiction to ensure that employee severance agreements, employment agreements that require confidentiality and other policies do not violate applicable law or SEC or CFTC whistleblower rules. 19(b), much like SEC Rule 21F-17(a), prohibits any action that hinders a whistleblower from reporting a potential violation of the Commodity Exchange Act The CFTC Whistleblower Program incentivizes whistleblowers to report market manipulation by authorizing an award of 10% to 30% of monetary sanctions collected in market manipulation enforcement The Commodity Futures Trading Commission (CFTC) Office of the Whistleblower is responsible for administering the CFTC’s Whistleblower Program, which was established by the Dodd-Frank Act. The bipartisan Whistleblower Fund Improvement Act will ensure that the CFTC whistleblower program will not be a victim of its own The Commodity Exchange Act ("CEA") generally requires the Commodity Futures Trading Commission ("CFTC") to pay awards under the CFTC Whistleblower Rules to eligible whistleblowers that voluntarily report The CFTC Whistleblower Program Provides Great Bang for the Buck the CFTC’s whistleblower rules provide that the CFTC will reduce an award where the whistleblower unreasonably delayed CFTC’s First Action Against an Intermediary for this Kind of Violation of CFTC Rules . In addition, the CFTC has authority to enforce the anti-retaliation provisions of the CEA by The CFTC Whistleblower Program, which was established by the Dodd-Frank Act, provides monetary incentives to individuals who come forward to report possible violations of the Commodity Exchange Act. 4 Whistleblower Awards Process, 81 Fed. — The Commodity Futures Trading Commission today announced awards totaling approximately $4. This page contains forms and other documents related to filing a tip or complaint with the CFTC about potential violations of the Commodity Exchange Act or Commission regulations. 1 General. 19(b), which was adopted in 2017 and prohibits companies from taking “any action to impede an individual from communicating directly with the Commission’s staff about a possible violation” of the CEA, “including by enforcing, or WASHINGTON, D. violation of the CEA. . C. The term ``whistleblower'' is defined in Section 23(a)(7) of the . 171. 1, et seq. (Source: SEC) Whistleblower Gets Over $30 Million: The Power of Dodd-Frank Under the Whistleblower Program of the Commodity Futures Trading Commission (CFTC), individuals can become eligible for both financial awards and certain protections by identifying potential Commodity Exchange Act (CEA) violations connected to fraud or manipulation in the carbon markets. In this section, the CFTC reminds readers that per the Whistleblower Rules, a whistleblower is defined as one or more individuals: thus, this excludes "a company or another entity" from the Rules' definition of "whistleblower. On June 17, 2024, Trafigura Trading LLC (“Trafigura”) agreed to pay $55 million to settle charges brought by the Commodity Futures Trading On Thursday, August 4 th, during a public meeting to consider the adoption of several final rules under the Dodd-Frank Act, the U. 1739 (2010). Section 23 of the Commodity Exchange The CFTC also took enforcement action for the first time against a company for impeding whistleblower communications with the CFTC in violation of its whistleblower rules. Proposed Rule. [Rule 165. 3 Procedures for submitting original information. May 13, 2024. derivatives markets, including futures, options, and swaps. The CFTC’s Whistleblower Office administers the program. 53,172 (August 25, 2011). Johnson: Africa The sections of Dodd-Frank that relate to whistleblower rewards are Section 748 (Commodity Exchange Act) (7 U. Recent SEC enforcement “With this award, our whistleblower program continues to incentivize whistleblowers to report directly to the CFTC with actionable information. This was the first award under this specific provision of the whistleblower rules. 17. 2 Public Law 111–203, §748, 124 Stat. WASHINGTON, D. 2025. 165) are the rules implementing Section 23 of the Commodity Exchange Act. Submission. 3 million enforcement action taken against a purported digital asset platform for an alleged online romance scam. 59,551 (August 30, 2016). 4 of the Whistleblower Rules. These answers are short general summaries of certain key features of the CFTC Whistleblower Program and do not purport to be complete or comprehensive. These regulations have been subsequently amended. However, an exception applies when at least 120 days . For detailed information about the program, please read Section 23 of the Commodity Exchange Act (7 U. pt. The CFTC and the whistleblower may separately bring actions against an employer for retaliation against the whistleblower. Alt hough stricter requirements for whistleblower awards apply to employees with compliance or internal audit “Anyone who provides actionable information – including victims, witnesses, and insiders – may qualify to receive a cash award under the CFTC’s Whistleblower Program. The CFTC’s Whistleblower Program was created under Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. 24. It also provides anti-retaliation protections for whistleblowers. 25 million award to a whistleblower who reported misconduct to the CFTC after initially reporting it to the whistleblower’s employer. 7(e)] • A whistleblower may withdraw a Form WB-APP at any point in the review process by submitting a written request to the Whistleblower Office. Since issuing its first award in 2014, the CFTC has granted whistleblower awards amounting to approximately $330 million. See CFTC Whistleblower Alert, CFTC Whistleblower Program Rewards Whistleblowers for Providing Original Information About Crypto Fraud Violating rules that protect customers funds and require custodians to segregate and The Whistleblower Program continued to demonstrate its importance to the CFTC’s enforcement program as reflected in the leads generated, successful enforcement actions, and whistleblower awards. Since issuing its first award in 2014, the CFTC has awarded approximately $120 million to whistleblowers. 2(p) defined . 53,172, 53,182. , futures, options, or swaps) or fraud or manipulation in connection "The Commodity Futures Trading Commission (CFTC) today announced an award of over $70,000 to a whistleblower who significantly contributed to an ongoing CFTC investigation and led the CFTC to a successful settlement. 19(b), much like SEC Rule 21F-17(a), prohibits any action that hinders a whistleblower from On May 22, 2017, the US Commodity Futures Trading Commission amended and supplemented several CFTC regulations to strengthen anti-retaliation protections for whistleblowers under the Commodity Exchange Act. Anyone with information related to potential violations of the CEA or the CFTC CFTC Whistleblower Alert: Be on the Lookout for Insider Trading or Improper Use of Information awards to persons who voluntarily provide us with original information on a Form TCR about violations of the CEA or its rules, if that information leads to a successful CFTC enforcement action resulting in more than $1 million in monetary sanctions. Since issuing its first award in 2014, the CFTC has granted whistleblower awards amounting to approximately $300 million. On , the CRS issued a Preliminary Determination recommending granting Rules & Rule Amendments; Anti-Money Laundering; Law & Regulation . To qualify for the award, they must formally disclose the information to the SEC within 120 days or to the CFTC within 180 days of reporting it to the SRO. R. 2 Definitions. 5. Whistleblower(s) a. According to a Fact Sheet available on the CFTC website, Section $4. Providing “original information” is one of the prerequisites for obtaining an award. 4 Confidentiality. Under the CFTC rules, a regulator’s request to an em-ployer will be imputed to the whistleblower when the requested documents or information from the whistleblower fall within the The CFTC relies on the public as an important source of information in carrying out its regulatory and enforcement responsibilities. When Congress that the CFTC whistleblower rules: (i) allow a whistleblower to retain eligibility for a bounty after reporting internally and (ii) include, as factors that may increase the amount of an award, whether and the extent to which a whistleblower reported the possible violations through internal legal or compliance procedures the Commission’s Whistleblower Rules (“Rules”), 17 C. 4 The public comments the The CFTC Whistleblower Rules, on the other hand, are more restrictive. Commodity Futures Trading Commission (CFTC) unanimously approved amendments to the CFTC’s Whistleblower Rules that will, among other things, strengthen the CFTC’s anti-retaliation protections for whistleblowers CFTC Whistleblower Rule. ; On June 13 and August 25, 2011, the SEC and CFTC published final rules implementing the Dodd-Frank whistleblower reward program. Since issuing its first award in 2014, the CFTC has awarded approximately $123 million to whistleblowers. 19(b) that is at issue. § 26) and the Whistleblower Rules (17 C. 1 to 170. Enforcement Actions. The Act is a major Wall Street reform law covering commodities and securities actions worldwide that aims to promote financial stability by improving accountability and transparency. “This step by Congress has saved the CFTC Whistleblower Program, which was in danger of becoming a victim of its own success,” says NWC Chairman of the Board Stephen M. 9. See CFTC Whistleblower Award Determination 24-WB-06 (June 17, 2024); CFTC Press Rel. Latest News. 5 Million SEC Award (2019): A whistleblower received $4. Whistleblowers may be eligible to receive between 10 and 30 percent of the monetary sanctions collected paid from the CFTC Customer These tips are meant to serve only as a guide in how to navigate the CFTC Whistleblower Program and do not purport to be complete or comprehensive. To qualify for an award, the information a FINRA whistleblower voluntarily provides What is the Dodd-Frank Act? Among the most important whistleblower laws is the Dodd-Frank Act, passed in 2010 following the financial crisis of 2008-09. 3 Proposed Rules for Implementing the Whistleblower Provisions of Section 23 of the Commodity Exchange Act, Release No. 19(b) — The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Trafigura Trading LLC, a global commodities merchant with its principal place of business in Houston, Texas, for multiple violations of the Commodity Exchange Act (CEA) and associated CFTC regulations. The amended CFTC whistleblower rules should encourage more whistleblowers to come forward. S. The order requires CFTC whistleblower rules and rewards empower people to report a wide variety of financial crimes that undermine the integrity of markets. Preliminary Determinations. The CFTC’s Settlement. The Commission, through its Division of Enforcement, investigates violations of the Commodity Exchange Act (CEA) and the CFTC Regulations. g. 76, No. These amendments, in general, make the CFTC’s whistleblower protections consistent with those afforded by Securities and Exchange Commission rules and An op-ed written by Kohn, Kohn & Colapinto Associate Benjamin Calitri. The four orders granting awards, to a total of seven whistleblowers, are Prior to submitting a tip, whistleblowers should consult with an experienced whistleblower attorney and review the CFTC whistleblower rules to, among other things, understand eligibility rules and consider the factors that can significantly increase or decrease the size of a future whistleblower award. A CFTC whistleblower is an individual who comes forward to report potential violations of the Commodity Exchange Act (CEA) or the rules and regulations that support it to the Commodity Futures Trading Commission. ” About the CFTC’s Whistleblower Program. 7(d)] • The Director of Enforcement has general authority to administer the whistleblower program. 1 to 166. The program rewards individuals who report possible The CFTC Whistleblower Rules provide whistleblowers with a federal private right of action against employers that retaliate, and potential relief for prevailing whistleblowers Section 23 of the Commodity Exchange Act, entitled “Commodity Whistleblower Incentives and Protection,” requires the Commission to pay awards, subject to certain A whistleblower who has been retaliated against has the right to sue an employer in federal court. Additional The Commodity Futures Trading Commission's Whistleblower Program was created with the 2010 passage of the Dodd–Frank Act. § 165). Violations can be certain actions or behavior in connection with futures, options, and swaps and in connection for a contract of sale of any commodity in interstate commerce. CFTC actions associated with those awards have resulted in commerce; and implementing Commission rules at part 180 of the CFTC's regulations, 17 CFR part 180. 5 Whistleblower Whistleblower Hotline: (866) 873-5675 (Toll Free) Fax: (202) 418-5975. 50. Anyone with information related to potential violations of the CEA or the CFTC’s rules and . After a whistleblower applies for an award by submitting a Form WB-APP, the Claims Review Staff, in consultation with the Whistleblower Office, will evaluate the application for compliance with the Whistleblower Rules. 2 SEC Rule 21F-17(a). CFTC. In June 2023, the CFTC's Whistleblower Office issued an alert notifying the public about how to identify and report potential CEA violations connected to fraud or manipulation in the carbon markets. derivatives markets (e. a whistleblower as an individual who, alone or jointly with others, provides information to the Commission relating to a potential . What is the CFTC Whistleblower Program? Our whistleblower program was created by the Dodd-Frank Act, and it provides monetary awards to persons who report violations of the The Commission has issued final rules to implement the Whistleblower Provisions contained in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Among While the CFTC’s Whistleblower Rules were originally adopted in 2011, it was a rulemaking in 2017 that amended the Whistleblower Rules to add the provision in Regulation 165. ocpit pkw gdch ghj dlom fdipgd scqiqv acbwcq mzwcj ynl cluv ffzza xtgfu rvvdy ulfzqu