The federal government highly forbids commodities trading fraud. And, as with other parts of the financial industry, the government has created a process for whistleblowers to present insider information revealing commodities fraud. Whistleblowers who voluntarily come forward with original information are eligible for monetary awards if the information leads to monetary sanctions greater than $1 million.
The whistleblower process allows people with inside information about fraud to perform an important public service while earning a financial reward. But it can be a confusing process, and people whose work is related to the fraud may be concerned about being connected to the investigation. At the Silver Law Group and the Law Firm of David R. Chase, we help whistleblowers share their information in a way that maximizes their chances of a reward and minimizes their exposure.
Tip The CFTC OffThe CFTC Whistleblower Program handles complaints about violations of the Commodity Exchange Act, the federal law that governs how commodities are traded in the United States. This program can only handle CEA violations, although there may be tools available for violations of other laws, such as the SEC whistleblower program.
Importantly, the law protects the identities of CFTC whistleblowers. The CFTC may not disclose anything that would reveal the whistleblower’s identity, except when a court requires the information. That’s true even if the complaint is passed on to the Department of Justice or another federal or state agency. Along with the information about the illegal activity, those agencies inherit the CFTC’s legal obligation to protect your identity. Whistleblowers can even stay anonymous to the Commission if they are willing to route all communications through a whistleblower attorney.
Anyone can submit a whistleblower tip through the Commission’s website. But to collect an award, you must submit information that leads to an enforcement action by the Commission or another agency. That information must be submitted voluntarily, which means it can’t be in response to a request or a subpoena from the Commission or certain other agencies. The information must be new to the Commission. You must cooperate with any followup questions the Commission or another entity asks. The information must eventually lead to a financial sanction of more than $1 million. And, once you get notice that the case has reached the right stage, you must submit an application for an award.
Experienced Whistleblower AttorneysThe securities whistleblower lawyers at the Law Firm of David R. Chase and the Silver Law Group have spent their entire careers in the specialized area of securities law, including time at the U.S. Securities and Exchange Commission. We understand what regulators are looking for, so we can make sure you’re in the best possible position to get your case noticed—and eventually collect a reward. For a free, confidential consultation about your information and what to do with it, contact us online today or call us at 1-800-975-4345.