The United States Commodity Futures Trading Commission (CFTC) designed a program to help regulate and preserve the integrity of the Commodity Exchange Act and its marketplace: the whistleblower program. Thanks to the Dodd-Frank Act,the whistleblower program provides individuals who have reported that violations to the Commodity Exchange Act have occurred,often from the inside,with protection and monetary incentives. Becoming a CFTC whistleblower is a serious thing that can impact the individual’s security,employment,and reputation. That is why the whistleblower program makes it worthwhile for individuals who are willing to take those chances,especially if they work with a http://www.granoffconsulting.com/whistleblowers-need-top-lawyers/.
Incentives of the Whistleblower Program
Under the whistleblower program,the CFTC has numerous incentives in place for individuals who volunteer information that is useful in maintaining and regulating the integrity of the commodities exchange market. The CFTC will pay out monetary awards to whistleblowers whose tips lead to enforcement. The amount of these monetary incentives vary depending on the monetary amount involved in the sanction.
The Legal Rights of Whistleblowers
Whistleblowers also have the legal right to sue their employer if their actions have resulted in retaliation or unfair treatment by fellow employees or their employers in the workplace with help from a submit a tip to the SEC. The CFTC also has the legal right to enforce anti-retaliation practices within the company.
Submitting Award Applications
In order for whistleblowers to benefit from the full protection and incentives of the program,their tip has to result in enforced action by the Commission. They also have to submit an award application when the tip is given and when the enforcement action has occurred. Awhistleblower law firm can handle this step.
Becoming a CFTC whistleblower is a serious decision that many individuals struggle with or refuse. Some feel loyal to their employers,even if they know they are doing something unethical or illegal. Thanks to the whistleblower program,the integrity and regulation of the commodities exchange market is protected and preserved.