Difference between revisions of "CFTC Whistleblower Program"

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The fraud or manipulation must be in connection with any swap, or contract of sale of any commodity in interstate commerce, or contract for future delivery on or subject to the rules of any registered entity.  Examples of prohibited trading include:
The fraud or manipulation must be in connection with any swap, or contract of sale of any commodity in interstate commerce, or contract for future delivery on or subject to the rules of any registered entity.  Examples of prohibited trading include:
*trading on material nonpublic information (MNPI) that was obtained by fraud or deception;
*trading on market-moving information that the source had a duty to protect;
*brokers front running customer orders or taking the other side of any customer order without consent; and
*improperly disclosing MNPI or using MNPI provided by a counterparty without the counterparty’s consent.


trading on material nonpublic information (MNPI) that was obtained by fraud or deception;
An example of the CFTC enforcing its prohibition against the misappropriation of MNPI is a September 29, 2016 enforcement taken against Jon P. Ruggles for engaging in fraudulent, fictitious, and non-competitive trades in crude oil and heating oil futures and options and RBOB gasoline futures on the NYMEX.  The [https://www.cftc.gov/PressRoom/PressReleases/7459-16 CFTC’s order settling the charges] requires Ruggles to disgorge ill-gotten gains totaling $3,501,306, imposes a civil monetary penalty of $1.75 million, and permanently bans him from trading and registering with the CFTC.  Ruggles, who was responsible for developing his former employer’s fuel hedging strategies and for executing the employer’s trades in certain NYMEX products, misappropriated the employer’s trading information for his own benefit in personal accounts that he controlled.
trading on market-moving information that the source had a duty to protect;
brokers front running customer orders or taking the other side of any customer order without consent; and
improperly disclosing MNPI or using MNPI provided by a counterparty without the counterparty’s consent.
An example of the CFTC enforcing its prohibition against the misappropriation of MNPI is a September 29, 2016 enforcement taken against Jon P. Ruggles for engaging in fraudulent, fictitious, and non-competitive trades in crude oil and heating oil futures and options and RBOB gasoline futures on the NYMEX.  The CFTC’s order settling the charges requires Ruggles to disgorge ill-gotten gains totaling $3,501,306, imposes a civil monetary penalty of $1.75 million, and permanently bans him from trading and registering with the CFTC.  Ruggles, who was responsible for developing his former employer’s fuel hedging strategies and for executing the employer’s trades in certain NYMEX products, misappropriated the employer’s trading information for his own benefit in personal accounts that he controlled.


=='''Benchmark Rates Manipulation'''==
=='''Benchmark Rates Manipulation'''==