For Release: January 29, 2003
CFTC ESTABLISHES TOLL-FREE COMPLAINT LINE [866-FON-CFTC] AND URGES THE PUBLIC TO USE IT TO REPORT SUSPICIOUS ACTIVITIES INVOLVING COMMODITIES
WASHINGTON, D.C. -- The U.S. Commodity Futures Trading Commission’s (CFTC) Division of Enforcement has established a toll-free telephone number to assist members of the public in reporting possible violations of the commodities laws. Anyone who wishes to report possible wrong-doing should call the Division of Enforcement at 866-FON-CFTC (866-366-2382).
The CFTC is the independent, federal agency that regulates commodity futures and option markets in the United States. Its Division of Enforcement investigates and prosecutes a wide range of improper conduct, including:
-- fraudulent sales of exchange-traded futures and options,
-- fraudulent sales of interests in foreign currency, precious metals, and heating oil,
-- internet solicitations for commodities and trading systems,
-- commodity pools making false solicitations and misappropriating investor funds, and
-- improper trading and reporting in the energy markets.
In particular, the Division pursues violations committed by people who solicit investments by falsely claiming high profits, limited risk, a profitable investment history or the possibility of profiting as a result of seasonal or well-known events, or who fail to disclose that trading histories are actually based on hypothetical or “paper” trading.
In carrying out its enforcement responsibilities, the CFTC relies upon the public – including those people who have been the subjects of improper solicitations and sales – as an important source of information. If you think that you have been the victim of any improper practices involving commodities, or if you simply are aware of such practices, please call the CFTC Division of Enforcement complaint line at 866-FON-CFTC (866-366-2382), where an experienced member of the staff will take your calls, or return any message quickly.
Commodities misconduct can also be reported to the Enforcement Division through a form on the CFTC's website, http://www.cftc.gov/enf/enfform.htm, or by mail addressed to Office of Cooperative Enforcement, CFTC, 1155 21st St., NW, Washington, DC 20581.
Previously, the CFTC announced the establishment of an “Enron Information Link” to assist the public in reporting suspicious activities that may have affected West Coast electricity or natural gas prices involving Enron or any other company (see CFTC News Release 4646-02, May 22, 2002).
Chief, Office of Cooperative Enforcement
Division of Enforcement
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