Commodity Futures Reparations Claims

To respond to customer complaints and inquiries and to provide a forum for hearing and ruling on reparations complaints against registrants regarding monetary damages resulting from violation of the Commodity Exchange Act or regulations.



Agency - Commodity Futures Trading Commission

Office - See address Appendix IV of the Catalog.
Website Address

http://www.cftc.gov



Program Accomplishments

None.

Uses and Use Restrictions

Customer complaints are an important source of information about possible violations and assist the Commodity Futures Trading Commission in its enforcement and regulatory functions.

Persons who believe they may have been cheated or defrauded in their trading transactions should advise the Commission so that it may take appropriate action.

The Commission also provides a customer reparations forum where monetary awards may be directed to any person who can prove damage received as a result of violation of the Commodity Exchange Act in dealing with persons or companies registered with the Commission.

Information on future trading is also available to the general public upon request.

Eligibility Requirements

Applicant Eligibility

Market users and the general public can submit customer complaints or inquiries.

Reparations complaints may be received from market users stating a claim for damages as a result of violations of the Commodity Exchange Act or regulation thereunder by a person or firm registered under the Act.

Beneficiary Eligibility

General public.

Credentials/Documentation

Reparations complaints must be proved by the complainant and must meet requirements for filing specified by Commission regulations.

Aplication and Award Process

Preapplication Coordination

None.

This program is excluded from coverage under E.O.

12372.

Application Procedures

Customer complaints and inquiries may be made by letter or telephone, to the Office of Proceedings-Complaints Section. Reparations complaints must be written verified statements as specified by Commission regulations and must be submitted to the Washington, DC office of the Commission.

Award Procedures

Not applicable.

Deadlines

Reparations claims must be filed within 2 years after the cause of action accrues.

Authorization

Commodity Exchange Act, as amended; Commodity Futures Trading Commission Act, Public Law 93-463; Futures Trading Act of 1978, Public Law 95-405; Futures Trading Act of 1982, Public Law 97- 444; Futures Trading Act of 1986, Public Law 99-641; Futures Trading Practices Act of 1992, Public Law 102-546; Commodity Futures Modernization Act of 2000, Public Law 106-554.

Range of Approval/Disapproval Time

Not applicable.

Appeals

Under certain circumstances appeals may be filed.

Renewals

Not applicable.

Assistance Considerations

Formula and Matching Requirements

Not applicable.

Length and Time Phasing of Assistance

Not applicable.

Post Assistance Requirements

Reports

Not applicable.

Audits

Not applicable.

Records

Not applicable.

Financial Information

Account Identification

95-1400-0-1-376.

Obigations

(Salaries and Expenses) FY 07 $70,400,000; FY 08 est not available; and FY 09 est not reported.

Range and Average of Financial Assistance

Not applicable.

Regulations, Guidelines, and Literature

Commodity Exchange Act as amended 7 U.S.C. - Regulations under the Commodity Exchange Act (CFR Title 17, Chapter 1), Reparations Literature (no charge).

Information Contacts

Regional or Local Office

See address Appendix IV of the Catalog.

Headquarters Office

Office of the Executive Director, Office of Proceedings, Commodity Futures Trading Commission, 3 Lafayette Center, 1155 21st Street, NW., Washington, DC 20581. Telephone: (202) 418-5250.

Criteria for Selecting Proposals

None.



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