Bank foreign exchange rate fraud lawyer, Jason S. Coomer, works with financial professionals who want to confidentially report foreign exchange rate fraud and anonymously earn large financial rewards. If you are aware of bank foreign exchange rate fraud or other significant bank fraud, please feel free to contact Bank Foreign Exchange Rate Fraud Whistleblower Reward Lawyer Jason Coomer via e-mail message or use our submission form for a confidential review of a potential whistleblower reward case.
Four Major Banks Were Fined $6 Billion For Trying to Manipulate Foreign Exchange Rates
In May 2015, six major banks were fined nearly $6
billion in a settlement of bank foreign exchange rate fraud allegations
that arose from a global probe into the $5 trillion-a-day market.
These banks included Citigroup Inc (C.N), JPMorgan Chase & Co (JPM.N),
Barclays Plc (BARC.L), UBS AG UBSG.VX(UBS.N) and Royal Bank of Scotland
In total, authorities in the United States and Europe have fined seven banks over $10 billion for failing to stop traders from trying to manipulate foreign exchange rates, which are used daily by millions of people from trillion-dollar investment houses to tourists buying foreign currencies on vacation. By confidentially and properly reporting similar bank foreign exchange rate schemes of this magnitude, a financial professional or investor can earn large financial rewards. An example of a reward based on a $10 billion fine by the SEC or CFTC could be between $1 billion to $3 billion. These rewards are designed to encourage financial professionals with original knowledge of significant investment fraud schemes to expose the fraud. Included in these laws are confidentially protections that allow a financial professional to anonymously expose these schemes through a lawyer.
Bank Foreign Exchange Rate Fraud Can Be The Basis of CFTC Bounty Actions That Can Pay Out From 10% to 30% of Any Recovery Made By The CFTC or SEC
CFTC bounty claims like SEC bounty claims must be brought voluntarily under the Bounty Programs by one or more individuals. The whistleblower or whistleblowers must be a natural person or natural persons, companies or other entity is not eligible to be financial fraud bounty whistleblowers. Successful CFTC and SEC violation bounty whistleblowers can collect financial rewards for whistleblower bounty actions that result in the imposition of monetary sanctions of greater than $1 million dollars.
Through CFTC and SEC Whistleblower Bounty Actions the CFTC and SEC will award between ten percent and thirty percent of the money collected to a qualified whistleblower who voluntarily provides the CFTC and SEC with original information about a violation of the securities laws that leads to a successful enforcement of an action brought by the CFTC and SEC that results in monetary sanctions exceeding $1,000,000.00.
Commodities Fraud Whistleblower Lawsuit Information, CFTC Whistleblower Incentive Program Lawsuit Information, Futures Fraud Lawsuit Information, Commodity Futures Fraud Whistleblower Lawsuit Information, & Commodity Futures Trading Commission Bounty Lawsuit Information
Monitoring the commodity futures market requires a highly coordinated effort including the efforts of investors. It is important that investors that are aware of illegal activities in the commodity futures market step forward and blow the whistle on illegal actions. Some of these actions include the following:
Fraud: cheating or attempting to cheat you through false claims concerning the likelihood of profit or loss; false or misleading statements about trading or about your salesperson, advisor, or the trading program you use; or false or misleading statements about any other material fact that you relied on in making a decision about futures or option trading.
Breach of fiduciary duty: a failure by a broker or salesperson to act with special care in handling your account when required to do so by the Commodity Exchange Act or CFTC rules.
Unauthorized trading: trades made by a broker without your prior specific authorization or a written grant of authority to effect trades without your specific authorization.
Misappropriation: a broker's unauthorized use or diversion of money that you deposited for the purpose of trading futures or options.
Churning: excessive trading of your account for the purpose of producing commissions and with disregard of your financial interests.
Wrongful liquidation: the unauthorized closing of your position.
Failure to supervise: Failure by a supervisor to diligently oversee the handling of a customer account by the supervisor's partners, officers, employees, and agents.
Nondisclosure: failure to inform you of the risks associated with futures and option trading, and the failure to disclose any other material fact you required to make a decision about futures or option trading.
If you are aware of these actions being committed it is important that you blow the whistle on these actions. There are several ways to blow the whistle on these actions including anonymous reporting procedures through an attorney.
SEC Securities Fraud Whistleblower Lawsuits, Dodd-Frank Act Financial Fraud Whistleblower Bounty Actions, CFTC Commodity Fraud Whistleblower Lawsuits, SEC Whistleblower Incentive Program Claims, Financial Fraud Derivatives Bounty Actions, & Financial Fraud False Claims Act Whistleblower Lawsuits
Financial Fraud Whistleblower Lawsuits, Securities Fraud Whistleblower Lawsuits, Commodity Fraud Whistleblower Lawsuits, Stimulus Fraud Whistleblower Lawsuits, and SEC Violation Whistleblower Lawsuits will become more common with the enactment of laws like the Dodd-Frank Wall Street Reform and Consumer Protection Act that create bounties that can be collected by whistleblowers that properly report SEC violations, financial fraud, securities fraud, commodities fraud, and stimulus fraud that result in monetary sanctions over one million dollars ($1,000,000.00). The SEC can award the whistleblower up to 30% of the money collected.
By creating whistleblower bounties for investors and people with specific information of financial fraud, it is expected that hard to detect financial fraud including derivative market fraud and investment fraud will be exposed to help regulate the financial market and prevent large investment corporations, banks, hedge funds, and other large corporations from committing financial fraud of billions of dollars.
For more information on SEC Fraud Whistleblower Bounty Actions and Securities Fraud Whistleblower Bounty Actions, please go to the following Securities Fraud Whistleblower Lawyer SEC Bounty Actions.
Commodity Futures Fraud Whistleblower Lawyer, Commodities Fraud Whistleblower Lawyer, CFTC Commodity Futures Trading Commission Incentive Program Lawyer, CFTC Whistleblower Lawyer, Commodities Fraud Bounty Lawyer, & CFTC Bounty Lawyer
As a Commodity Futures Investment Fraud Whistleblower Lawyer and Securities Fraud Whistleblower Lawyer, Jason S. Coomer commonly works with other powerful financial fraud and securities fraud whistleblower lawyers to handle large Securities Fraud Whistleblower Lawsuits, Securities Fraud Bounty Actions, Commodity Futures Fraud Bounty Action, and other Financial Fraud and Investment Fraud Lawsuits. He also works on Medicare Fraud Whistleblower Lawsuits , Defense Contractor Fraud Whistleblower Lawsuits, Stimulus Fraud Whistleblower Lawsuits, Government Contractor Fraud Whistleblower Lawsuits, and other government fraud whistleblower lawsuits.
If you are the original source with special knowledge of fraud and are interested in learning more about a whistleblower lawsuit, please feel free to contact Commodity Futures Fraud Whistleblower Lawyer and Securities Fraud Whistleblower Lawyer Jason Coomer via e-mail message.