The futures investment market has a reputation as a place where individuals and companies can get rich quickly. This wild west mentality can tempt many people and businesses into cutting corners to earn a quick return on their investments.
In an attempt to curb this behavior, Congress empowered the United States Commodities Futures Trading Commission (CFTC) in 1974 to oversee this market. This agency has the power to conduct investigations into apparent illegal activities as well as to punish violations of the law. Still, the CFTC relies on ordinary citizens to serve as whistleblowers if they witness illegal activity.
A Greenville CFTC whistleblower lawyer is ready to help individuals looking to come forward. This can include filing comprehensive complaints, demanding appropriate rewards through a writ of Qui Tam, and protecting individuals against potential retaliation.
The CFTC expressly invites common citizens to serve as whistleblowers. This program leads to a significant portion of all cases that the CFTC pursues. On top of this process being the right thing to do, it can also result in significant rewards for those people brave enough to come forward.
The Commodity Exchange Act defines illegal activities in the futures market. Specifically, it prohibits:
Individuals who believe that they have witnessed any of these behaviors can file a report with the CFTC. Additionally, they should feel safe to do so. It is illegal for any company or individual to intimidate, threaten, or otherwise punish any person serving as a whistleblower or who cooperates with a CFTC investigation. A Greenville CFTC whistleblower attorney could help people thinking of coming forward.
Not only does reporting violations of the CEA make people good citizens, but it could also help their finances. The CFTC relies on whistleblowers as starting points for many of their investigations. As a result, they often offer rewards for information that leads to convictions.
To qualify for these payments, people need to submit writs of Qui Tam. These inform the CFTC that the whistleblower is seeking payments. Under 7 United States Code § 26, certain groups of people cannot collect these rewards. They include:
Even if a person seeming qualifies under these criteria, rewards are only appropriate under certain circumstances. The information that the whistleblower provides must be new to the CFTC. Additionally, it must result in a conviction where the agency receives at least $1,000,000 in funds. If the case meets these criteria, the law authorizes a reward of between ten and thirty percent of the amount that the CFTC recovers. A Greenville CFTC Qui Tam attorney could help parties to seek out these rewards.
The federal laws that govern the futures market place heavy burdens on the regulatory agencies. Organizations such as the CFTC rely on whistleblowers to point them in the right direction for investigations. Federal laws also prohibit any retaliation against these whistleblowers.
A Greenville CFTC whistleblower lawyer wants to help you to perform your civic duty as well as to collect an appropriate reward. If the information that you provide is new and leads to a conviction for a sufficient value, the law allows you to demand a reward through a writ of Qui Tam. Contact an attorney in Greenville today to learn more about being a whistleblower to the CFTC.
