The Commodity Futures Trading Commission (CFTC) announced today a whistleblower award of approximately $2.5 million to be paid to an individual whistleblower. In ordering the award, the CFTC took into account the significance of early reporting of misconduct, however, the award was reduced because of the whistleblower’s delay in reporting to the CFTC.
“Today’s award goes to a whistleblower who assisted the CFTC at every step of the investigation,” said James McDonald, Director of the CFTC’s Division of Enforcement. “Although this award was substantial, it was reduced because of an unreasonable delay in reporting the violations. We hope this case illustrates the importance of reporting violations to the CFTC as soon as reasonably possible. Reporting early lessens the harm violators can inflict on the public and hastens our investigations to bring the culprits to justice.”Read more here.