CFTC Form WB-APP Application for Award for Original Information Provided Pursuant to Section 23 of the Commodity Exchange Act

What Is CFTC Form WB-APP?

This is a legal form that was released by the U.S. Commodity Futures Trading Commission and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is CFTC?A: CFTC stands for Commodity Futures Trading Commission, which is a US federal agency responsible for regulating the commodity futures and options markets.

Q: What is Form WB-APP?A: Form WB-APP is an application for award for original information provided to the CFTC under Section 23 of the Commodity Exchange Act.

Q: What is the Commodity Exchange Act?A: The Commodity Exchange Act is a federal law that regulates the trading of commodity futures and options in the United States.

Q: Who can apply for an award using Form WB-APP?A: Anyone who provides original information to the CFTC that leads to a successful enforcement action resulting in monetary sanctions exceeding $1 million can apply for an award using Form WB-APP.

Q: What is the purpose of Form WB-APP?A: The purpose of Form WB-APP is to allow individuals to apply for an award for providing original information to the CFTC, which can incentivize individuals to report violations of the Commodity Exchange Act.

Q: What information is required in Form WB-APP?A: Form WB-APP requires information about the applicant's identity, the information provided, the enforcement action it led to, and any previous disclosures of the information.

Q: What happens after submitting Form WB-APP?A: After submitting Form WB-APP, the CFTC will review the application and determine whether to grant an award based on the criteria defined in Section 23 of the Commodity Exchange Act.

Q: What is the award amount for providing original information?A: The award amount for providing original information can range from 10% to 30% of the monetary sanctions collected in the enforcement action.

Q: Is the information provided on Form WB-APP confidential?A: Yes, the information provided on Form WB-APP is treated as confidential by the CFTC, unless disclosure is required by law or necessary for the enforcement action.

Q: Is there a deadline for submitting Form WB-APP?A: Yes, Form WB-APP must be submitted within two years of the date of the CFTC's first publication or first public statement identifying the enforcement action.