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New Head of CFTC’s Whistleblower Office Highlights Potential Rewards for Reporting Fraud

New Head of CFTC’s Whistleblower Office Highlights Potential Rewards for Reporting Fraud

Sixty years ago, Fred Schwed penned “Where Are the Customers’ Yachts?” The title was inspired by a tale from over a century ago when a visitor in New York marveled at the lavish yachts owned by Wall Street insiders who profited from dispensing financial advice. This visitor pondered the absence of yachts belonging to the customers themselves, highlighting the stark reality that providing financial advice yields far more profit than receiving it. Today, there are new contenders for lavish yachts; whistleblowers. 

The new head of the CFTC’s Whistleblower Office, Brian Young, might be able to help you secure that big yacht if you’ve witnessed and reported commodity fraud to the CFTC Whistleblower Office, resulting in a recovery of more than $1 million from a CFTC enforcement action. 

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Wall Street Faces Tougher Margin Rule as Zero-Day Options Boom

Observations & Insight NOTE: JLN Options will not be published tomorrow (Wednesday) in observance of the Juneteenth holiday. We will be back on Thursday. ~JB ++++ Regulatory Uncertainty Clouds Options Market Innovation JohnLothianNews.com David Dooman, head of...