The Commodity Futures Trading Commission (CFTC) recently awarded more than $150 million to 10 whistleblowers via the Whistleblower Program.
The program recognizes whistleblowers who provide original information that results in successful enforcement actions. The CFTC issues awards based on its own enforcement actions and those conducted by other domestic or foreign regulators when certain conditions are met.
“Awards such as these incentivize others to come forward with information about misconduct in our markets, which in turn contributes to the success of our enforcement program,” David Miller, CFTC Division of Enforcement director, said.
Eligible whistleblowers receive between 10 percent and 30 percent of the monetary sanctions collected. Since 2014, the CFTC has awarded more than $580 million. Whistleblower tips were associated with more than $5.1 billion in monetary sanctions.
“The number and size of these awards demonstrate that the commission is committed to rewarding whistleblowers who play a critical role in the commission’s efforts to deter and prevent disruptions to our markets,” Raagnee Beri, Whistleblower Office director, said.
The Commodity Exchange Act provides whistleblowers with confidentiality protections. The CFTC does not disclose the exact award amount, the specific enforcement action or any information that could reasonably be expected to reveal a whistleblower’s identity.