FEDERAL
AGENCY:
COMMODITY
FUTURES TRADING COMMISSION
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.
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.
TYPES
OF ASSISTANCE:
Investigation of Complaints.
Place Cursor Here for Definition
|
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.
APPLICATION
AND AWARD PROCESS:
Pre-application
Coordination: None. This program is excluded
from coverage under E.O. 12372.
Application
Procedure: 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
Procedure: Not applicable.
Deadlines:
Reparations claims must be filed within 2 years after the cause
of action accrues.
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.
Obligations:
(Salaries and Expenses) FY 01 $62,761,000; FY 02 est $67,850,000;
and FY 03 est $70,400,000.
Range
and Average of Financial Assistance: Not applicable.
PROGRAM
ACCOMPLISHMENTS:
The Commission estimates accepting 200 reparations complaints in
fiscal year 2001, and 210 reparations complaints in fiscal year
2002.
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.
Web
Site Address: http://www.cftc.gov
EXAMPLES
OF FUNDED PROJECTS:
None.
CRITERIA
FOR SELECTING PROPOSALS:
None.
