The Struggle isn't Over: Tell Congress to Fund the CFTC

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Tell Congress to Fund the CFTC

The Commodity Futures Trading Commission (CFTC) Customer Protection Fund neared depletion due to the success of the CFTC whistleblower program, and the growing number of highly qualified whistleblowers eligible for awards. This fund was used to pay whistleblowers and helped operate the CFTC Whistleblower office. Despite the successes at the CFTC, the program was slowly going bankrupt.

While the CFTC whistleblower program continues to set records, such as awarding $200 million to a whistleblower in October, Congress has still not fully funded the commodity program, despite these record-setting enforcement actions. A bipartisan group of Senators, led by Senators Charles Grassley (R-IA) and Maggie Hassan (D-NH) are addressing these problems — but they need the support of the American people to make sure this critical program is not undermined.

Strengthening the CFTC whistleblower program is crucial to preserving our economy and our environment. The CFTC is responsible for overseeing fraud and manipulation related to Bitcoin, which has been repudiated as a gargantuan consumer of electricity, the majority of which comes from coal power plants. The CFTC has realized its obligation to reduce carbon emissions and has established a Climate Risk Unit. Effective oversight of Bitcoin and other digital currencies is crucial in this effort, and whistleblowers are the best tool in this fight.

So, please, write to your representatives and senators and urge them to continue to fund the CFTC's whistleblower program and ensure corporate whistleblowers are protected.

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Tell Congress to Fund the CFTC

Unfortunately, Congress did not fully fund the commodity program, and this year it nearly went bankrupt, despite record-setting enforcement actions. A bipartisan group of Senators, led by Sens. Charles Grassley (R-IA) and Maggie Hassan (D-NH) are trying to address these problems — they need the support of the American people to make sure this critical program is not undermined.

So, please, write to your representatives and senators and urge them to continue to fund the CFTC's whistleblower program and ensure corporate whistleblowers are protected.

Write to your Representative today

Subject: Please fund the Commodity Futures whistleblower program

Message:

Dear Representative, I’m writing to you today to urge you to pass needed funding for the Commodity Futures Trading Commission (CFTC) whistleblower program. Leaving the CFTC's whistleblower program unfunded would cause significant harm to the public interest and undermine Congress’s anti-corruption efforts. It is imperative that Congress works quickly to ensure the CFTC is fully able to compensate whistleblowers. The alternative would be disastrous for the program. Between 30-40% of the CFTC’s anti-fraud enforcement’s ongoing investigations involve whistleblowers. Since the program was founded under the Dodd-Frank Act in 2010, the CFTC has recovered over $1 billion from criminal and fraudulent activity due to whistleblowers’ assistance and paid over $120 million in whistleblower awards. The CFTC Office of the Whistleblower needs support. This program achieves the circle of accountability that is critical for successful anti-fraud programs. It uses information from whistleblowers to identify and investigate frauds and obtain sanctions from wrongdoers. The money obtained is then used to award whistleblowers, pay restitution, reimburse taxpayers, and ensure the whistleblower office functions in a highly effective and competent manner. It is imperative that the Office of the Whistleblower has the funds to continue its outstanding work on behalf of whistleblowers and the public interest. Funding the CFTC whistleblower is essential to ensuring the office has the means to continue its outstanding work on behalf of commodities whistleblowers and the public interest. Without funding, delays and inability to pay awards will severely harm whistleblowers and undermine the CFTC’s record of success. The CFTC’s Whistleblower Office needs your support, and they need it quickly. Thank you for your time. If you have any questions, please reach out to the National Whistleblower Center at info@whistleblowers.org. Sincerely,

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Tell Congress to Fund the CFTC

Tell Congress to Fund the CFTC

Tell Congress to Fund the CFTC

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Tell Congress to Fund the CFTC

Tell Congress to Fund the CFTC

Tell Congress to Fund the CFTC

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Tell Congress to Fund the CFTC

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