PRIA Logo™
117-s-409117th CongressWALLET

A bill to provide for the availability of amounts for customer education initiatives and non-awards expenses of the Commodity Futures Trading Commission Whistleblower Program, and for other purposes.

Sponsored By: Senator Grassley, Chuck [R-IA]

Became Law

Summary

Creates a dedicated Treasury account for the CFTC Whistleblower Program to fund customer education initiatives and the administrative, programmatic, and personnel costs of the Whistleblower Office and the Office of Customer Education and Outreach.

Show full summary
  • Gives the CFTC a separate pot in Treasury to cover non-award expenses for the Whistleblower Office and the Office of Customer Education and Outreach. The commission may use it only when the unobligated balance of the Customer Protection Fund is insufficient.
  • Funds customer education initiatives described in section 23(g)(2)(B) of the Commodity Exchange Act, supporting outreach to market participants and the public.
  • Allows the CFTC to transfer up to $10 million from the Commodity Futures Trading Commission Customer Protection Fund into the new account. Any unobligated amounts must be returned to the Fund after October 1, 2022.
  • Requires the Commission to include information about the new account in its existing section 23(g)(5) reports when that information is relevant.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Funding for CFTC whistleblower operations

The law sets up a separate Treasury account for the CFTC whistleblower program. It can pay only for customer education and staff costs, not whistleblower awards. The CFTC may move up to $10 million from its Customer Protection Fund into this account. The money is available without new approval until October 1, 2022; any not spent by then goes back to the Fund. The CFTC may draw on this account only when the Fund’s balance is too low because of award payments. The CFTC must include this account in its regular reports.

Sponsors & CoSponsors

Sponsor

Grassley, Chuck [R-IA]

IA • R

Cosponsors

  • Sen. Hassan, Margaret Wood [D-NH]

    NH • D

    Sponsored 2/24/2021

  • Sen. Ernst, Joni [R-IA]

    IA • R

    Sponsored 2/24/2021

  • Sen. Baldwin, Tammy [D-WI]

    WI • D

    Sponsored 2/24/2021

  • Sen. Collins, Susan M. [R-ME]

    ME • R

    Sponsored 4/13/2021

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation