CFTC Announces Approximately 15 Million Whistleblower Award. Exposing Misconduct.

CFTC Announces Approximately 15 Million Whistleblower Award

May 6, 2019

The Commodity Futures Trading Commission (CFTC) today announced a whistleblower award of approximately $1.5 million to be paid to an individual whistleblower.  The CFTC granted the whistleblower’s award application for both a CFTC action and a related action brought by another federal regulator.  In ordering the award, the CFTC recognized the contribution of a whistleblower who sought to report his or her concerns internally prior to reporting to the CFTC.

James McDonald, CFTC’s Enforcement Director, said, “Today’s award stands as one in a growing line of whistleblower awards that show the Commission’s continued commitment to the program.  Whistleblowers have become an integral part of our enforcement efforts, and I expect that trend to continue going forward.”

“While there is no requirement that a whistleblower report internally before approaching the Commission, today’s award demonstrates that the Commission may pay enhanced awards to those that do – that is one of the positive factors set out in our rules for the Commission to consider in making its award determination,” said Christopher Ehrman, Director of CFTC’s Whistleblower Office.  “To be clear, the Commission’s rules do not require a whistleblower to undertake internal reporting efforts in order to be eligible for the benefits and protections of our program.  Instead, a whistleblower can contact us directly whenever he or she wishes – and may do so anonymously.”

Read more here.
The materials on this website are for general information purposes only and should not be construed as legal advice, legal opinion or any other advice on any specific facts or circumstances. Readers should not act or refrain from acting upon this information without seeking professional advice. Transmission of information on or by use of this website is not intended to create, and receipt does not constitute, a lawyer-client relationship between the sender and receiver.
Mobile Menu
×