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Notice No. 2014-028

  • July 1, 2014

    Notice of Covered Action – National Equity Holdings, Inc., Robert J. Cannone, Thomas B. Breen, and Francis Franco – Award Claims Due No Later than September 29, 2014

    The Commodity Futures Trading Commission hereby gives notice that individuals may submit whistleblower award claims within 90 days from today’s date for the following matter:

    Commodity Futures Trading Commission v. National Equity Holdings, Inc., Robert J. Cannone, Thomas B. Breen, and Francis Franco. Case 8:11-cv-01718-JVS-MLG.

    On April 11, 2013, the Commission obtained a judgment against National Equity Holdings, Inc., Robert J. Cannone, Thomas B. Breen, and Francis Franco for civil monetary penalties in the amount of $3,600,000.

    Order: National Equity Holdings, Inc., et al.

    On November 5, 2013, the Commission obtained a judgment against National Equity Holdings, Inc., Robert J. Cannone, Thomas B. Breen, and Francis Franco for civil monetary penalties in the amount of $700,000.

    Order: Thomas Breen

    On March 18, 2014, the Commission obtained a judgment against National Equity Holdings, Inc., Robert J. Cannone, Thomas B. Breen, and Francis Franco for civil monetary penalties in the amount of $800,000.

    Order: National Equity Holdings, Inc., et al.

    The Commission posts Notices of Covered Actions for each Commission enforcement action where a final judgment or order – by itself or together with prior judgments or orders in the same action issued after July 21, 2010 – results in monetary sanctions exceeding $1 million.

    Individuals who voluntarily provided the Commission with original information after July 21, 2010 that led to the successful enforcement of a Covered Action are eligible to claim a whistleblower award.

    To make an award claim, you must submit a Form WB-APP by mail or facsimile to the following address:

    Commodity Futures Trading Commission
    Whistleblower Office
    1155 21st Street, NW
    Washington, DC 20581
    Fax: (202) 418-5975

    All award claims for this Notice must be received by no later than September 29, 2014.

    Please note that by posting a Notice of Covered Action, the Commission has not made any determination that a whistleblower tip, complaint or referral led the Commission to open an investigation or file an enforcement action, or that an award to a whistleblower will be paid in connection with the action.

    Please email any questions about this Notice to the Whistleblower Office at whistleblower@cftc.gov.

    Notice No. 2014-028

    Last Updated: July 1, 2014



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