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Catalog of Federal Domestic Assistance

Program Descriptions

78.004:  Commodity Futures Reparations Claims

Objectives:  To respond to customer complaints and inquiries and to provide a forum for hearing and ruling on reparations complaints against registrants regarding monetary damages resulting from violation of the Commodity Exchange Act or regulations.

PROGRAM AND AWARD	FINANCIAL AND INFORMATION CONTACTS
ELIGIBILITY REQUIREMENTS	FINANCIAL AND ADMINISTRATIVE INFO.
APPLICATION AND AWARD PROCESS	INFORMATION CONTACTS
RELATED PROGRAMS	ASSISTANCE CONSIDERATIONS
PROGRAM ACCOMPLISHMENTS	POST ASSISTANCE REQUIREMENTS

78.004 ELIGIBILITY REQUIREMENTS:

Applicant Eligibility:  Market users and the general public can submit customer complaints or inquiries. Reparations complaints may be received from market users stating a claim for damages as a result of violations of the Commodity Exchange Act or regulation thereunder by a person or firm registered under the Act.

Beneficiary Eligibility:  General public.

Credentials/Documentation:  Reparations complaints must be proved by the complainant and must meet requirements for filing specified by Commission regulations.

78.004 APPLICATION AND AWARD PROCESS:

Preapplication Coordination:  None. This program is excluded from coverage under E.O. 12372.

Application Procedure:  Customer complaints and inquiries may be made by letter or phone, to the Office of Proceedings-Complaints Section. Reparations complaints must be written verified statements as specified by Commission regulations and must be submitted to the Washington, DC office of the Commission.

Award Procedure:  Not applicable.

Deadlines:  Reparations claims must be filed within 2 years after the cause of action accrues.

Range of Approval/Disapproval Time:  Not applicable.

Appeals:  Under certain circumstances appeals may be filed.

Renewals:  Not applicable.

Criteria for Selecting Proposals:  None.

Examples of Funded Projects:  None.

Range and Average of Financial Assistance:  Not applicable.

78.004 RELATED PROGRAMS:

78.004 PROGRAM ACCOMPLISHMENTS:

78.004 FINANCIAL AND ADMINISTRATIVE INFO:

Federal Agency:  COMMODITY FUTURES TRADING COMMISSION

Type of Assistance:  Investigation of Complaints.

Obligations:  (Salaries and Expenses) FY 99 $61,152,000; FY 00 est $62,761,000; and FY 01 est $72,000,000.

Budget Account Number:  95-1400-0-1-376.

Authorization:  Commodity Exchange Act, as amended; Commodity Futures Trading Commission Act, Public Law 93-463; Futures Trading Act of 1978, Public Law 95-405; Futures Trading Act of 1982, Public Law 97-444; Futures Trading Act of 1986, Public Law 99-641; Futures Trading Practices Act of 1992, Public Law 102-546.

Regulations, Guidelines, and Literature:  Commodity Exchange Act as amended 7 U.S.C. - Regulations under the Commodity Exchange Act (CFR Title 17, Chapter 1), Reparations Literature (no charge).

78.004 INFO CONTACTS:

Regional or Local Office:  See address Appendix IV of the Catalog.

Headquarters Office:  Office of the Executive Director, Office of Proceedings, Commodity Futures Trading Commission, 3 Lafayette Center, 1155 21st Street, NW., Washington, DC 20581. Phone: (202) 418-5250.

(See Appendix IV for more contact info.)

78.004 ASSISTANCE CONSIDERATIONS:

Formula and Matching Requirements:  Not applicable.

Length and Time Phasing of Assistance:  Not applicable.

Uses and Use Restrictions:  Customer complaints are an important source of information about possible violations and assist the Commodity Futures Trading Commission in its enforcement and regulatory functions. Persons who believe they may have been cheated or defrauded in their trading transactions should advise the Commission so that it may take appropriate action. The Commission also provides a customer reparations forum where monetary awards may be directed to any person who can prove damage received as a result of violation of the Commodity Exchange Act in dealing with persons or companies registered with the Commission. Information on future trading is also available to the general public upon request.

78.004 POST ASSISTANCE REQUIREMENTS:

Reports:  Not applicable.

Audits:  Not applicable.

Records:  Not applicable.