Complaints must involve a commodity futures trading professional registered with the CFTC who is alleged to have engaged in activities which violate either the Commodity Exchange Act or CFTC regulations. Illegal activities include, but are not limited to:
- unauthorized trading of your account,
- churning (trading excessively to generate commissions),
- violations of fiduciary duty, and
- misappropriation of funds.
The transactions involved can include futures contracts, options on futures contracts or on physical commodities.
Customers with valid complaints along these lines are entitled to adjustments to their accounts. Under the following circumstances, a customer's claim can be considered under the CFTC's reparations program:
- the individuals or firms named in the complaint are currently registered or were registered with the CFTC at the time of the alleged violation;
- the complaint has been mailed to the CFTC Office of Proceedings within two years after the resulting loss is realized for accounting purposes; and
- the proposed respondents are not in bankruptcy or receivership proceedings.
The facts outlined in the complaint must show that:
- losses claimed as damages are the result of the activities described;
- the proposed respondents named in the complaint engaged in these activities; and,
- these activities appear to be in violation of the Commodity Exchange Act or CFTC regulations.
InvestingWhen the employees you interact with at your bank, credit card company, mortgage lender or other financial institution seem incapable of or unwilling to resolve your complaint, the Consumer Financial ...
Small BusinessIn the financial industry, there's not much emphasis placed on dealing with customer complaints, but there should be.
Financial AdvisorAdvisors looking to avoid an SEC audit should pay heed to this list of what may catch the regulator's attention.
InsightsUnited is suing a complaint website over the use of its name and logo.
Financial AdvisorBefore you blame your advisor for your losses, be sure you know your rights and responsibilities.
InvestingMark Zuckerberg and Facebook have received mounting complaints in Germany about concerns over hate speech on the social media site.
InvestingAT&T is facing complaints from customers who say they can't get a refund after a seven-day trial.
InvestingFrontier Communications (NASDAQ: FTR) continues to struggle with the territories it bought from Verizon in California, Texas, and Florida. The smaller cable and internet company purchased approximately ...
TradingHow are options regulated in the U.S and which organizations are involved in options market regulations?
InvestingCentury Aluminum stock rose as high as 15.7%, narrowly missing a new 52-week high at $10.39.