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ARTICLE · 23 MAY 2024

CFTC Taking Aim At Restrictive NDAs Which Impede Whistleblowing

Kohn, Kohn & Colapinto, LLP
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Reporting from Bloomberg details recent requests sent to major banks by the U.S. Commodity Futures Trading Commission (CFTC) seeking non-disclosure agreements...

United StatesFinance and Banking
Geoff Schweller
Geoff Schweller
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Reporting from Bloomberg details recent requests sent to major banks by the U.S. Commodity Futures Trading Commission (CFTC) seeking non-disclosure agreements used in swaps and clearing businesses in order to determine whether or not they violate CFTC rules prohibiting companies from impeding the ability of individuals to blow the whistle to the agency.

CFTC Rule 165.19 states that "No person may take any action to impede an individual from communicating directly with the Commission's staff about a possible violation of the Commodity Exchange Act, including by enforcing, or threatening to enforce, a confidentiality agreement or predispute arbitration agreement with respect to such communications."

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