Comment Text:
Erik Hoffner
795 Ashfield Mtn Rd
Ashfield, MA 01330-9622
November 22, 2010
Gary Gensler
Commodity Futures Trading Commission
Three Lafayette Centre
1155 21st Street, NW
Washington, DC 20581
Dear Chairman Gensler:
I am afraid that the whistleblower rules the SEC and Commodity Futures Trading Commission are drafting now won't fulfill the intent of Dodd-Frank rule. It'd be a shame to let corporate lobbyists undo these rules to protect whistleblowers, and also our economy. Too often, whistleblowers try to reign in banks for wrongdoing but the only one punished is the informant, while the taxpayer holds the bag.
There have been "admissions by the SEC that their proposed rules would 'limit the pool of eligible whistleblowers,' 'reduce the number of possibly useful informants,' 'discourage some whistleblowers,' cause 'persons not to come forward,' and result in 'forgone opportunities for effective enforcement action.' "
The CTFC and the SEC should write rules to encourage whistleblowers to report commodities fraud, which respect the intent of the Dodd-Frank rule.
Look forward to hearing your response,
Erik Hoffner
413.625.2283
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