Contact UsWhat is the Commodity Futures Trading Commission Whistleblower Program? For an in-depth explanation of the nuts and bolts, read KMB's CFTC Whistleblower Practice Guide, written by Katz, Marshall & Banks partners Lisa J. Banks and Michael A. Filoromo. Recently updated in 2020 with information regarding the CFTC’s FY2019 enforcement actions and sanction totals, the Guide provides a comprehensive and up-to-date explanation of the law and valuable best practices for CFTC whistleblowers and their counsel, including preparing an effective “tip,” cooperating in a CFTC investigation and claiming a whistleblower reward. Specifically the Guide reviews the CFTC's new set of rules implemented in 2017, and how they have enhanced the review process to ensure greater transparency and provide more options for whistleblowers to contest preliminary award determinations. It also explains the legal protections that CFTC whistleblowers have against retaliation.
To gain a better understanding of the material covered within the Guide, the table of contents is provided below:
- Introduction and Background
- The CFTC Whistleblower Program
- A. Whistleblower Status
- 1. “Voluntarily Provide”
- 2. “Original Information”
- 3. Independent Knowledge and Independent Analysis
- 4. Exclusions from Independent Knowledge and Analysis
- B. Rules Designed to Incentivize Internal Reporting
- C. Information that Leads to Successful Enforcement
- D. Monetary Sanctions Totaling More Than $1 Million
- E. CFTC Procedures for Submitting a Tip
- F. Claiming a Whistleblower Award
- G. Determining the Amount of an Award
- A. Whistleblower Status
- Protections Against Retaliation
- A. Confidential and Anonymous Reporting
- B. Filing a Retaliation Lawsuit
- Things to Think About Before You Tip
If you believe you have information about futures trading violations (including the “swaps” market) or illegal foreign-currency futures contracts – or you have provided such information and were retaliated against as a result – contact Katz, Marshall & Banks, LLP. Your communications with us are confidential, and without charge or further obligation.
To learn more about the CFTC Whistleblower Program & Katz, Marshall & Banks, read the CFTC Whistleblower Program Overview.
Other Resources:
Whistleblowers are Getting Much-Needed Help from the CFTC
CFTC Issues $10M Whistleblower Award
Monetary Sanctions and Award Percentage: Understanding the CFTC Whistleblower Program
