SEC Whistleblower Lawyer Blog
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.
In the order, the CTFC noted that the individual voluntarily submitted information first through another regulatory agency. A written referral from a Division of Enforcement led to opening an investigation. CTFC staff then requested information from the Regulator about trading activity discussed in the referral. The whistleblower’s inside information proved instrumental in prompting the regulatory enforcement action, which centered on the misconduct detailed in their disclosure. They even provided the CFTC staff additional information that notified the Commission of a different violation that it was unaware of before.
The order noted that although the company’s misconduct was well known, the whistleblower was the only one who voluntarily notified CTFC of the violations. The whistleblower spoke with CTFC staff multiple times, offering “substantial” assistance, acting as a resource. Their information was detailed enough so that CTFC staff had no problem identifying the company’s misconduct and other activities.
For their efforts the whistleblower will receive a payment of over $4.5 million. The identity of the whistleblower, the company involved, and other case details is kept confidential to protect the whistleblower. The funds are paid from the CFTC’s Congress-established Customer Protection Fund, paying awards out of collected monetary sanctions. No investor money is used to fund this program.
Retaining Experienced CFTC Whistleblower Attorneys
Whistleblowers help everyone by notifying the authorities of conduct that harms the investing public, while also earning financial compensation for themselves. Hiring experienced counsel may greatly increase the probability that an investigation will be initiated based on your information. If you wish to remain anonymous, you must be represented by an attorney, who will submit everything on your behalf.
Silver Law and the Law Firm of David R. Chase jointly have experienced whistleblower lawyers, including a former SEC Enforcement attorney on the team, so you will always have guidance throughout the process. Our CFTC whistleblower attorneys can help you if you have information regarding commodities fraud, violations of the commodities laws, spoofing, or other misconduct. You must provide timely, credible, and original information or analysis to be eligible.
Contact us through our online form or at (800) 975-4345 for a consultation. Our attorneys work on a contingency fee basis. This means that it costs you nothing to hire us, and we collect our fees only if you receive an SEC bounty. Because we get paid when you do, we have the incentive to help you collect the maximum award available.