Securities Regulation Daily CFTC issues $2M whistleblower award
Monday, March 4, 2019

CFTC issues $2M whistleblower award

By Amy Leisinger, J.D.

Under the whistleblower program, an individual whistleblower need not be an insider, and the Commission can pay awards in connection with related actions by other agencies, Whistleblower Office Director Christopher Ehrman noted.

The CFTC has announced a whistleblower award totaling more than $2 million to be paid to an individual whistleblower for both a CFTC action and a related action brought by another federal regulator. In ordering the award, the CFTC acknowledged the whistleblower’s provision of critical information and assistance through independent analysis of market data.

"The Commission is dedicated to working cooperatively with other federal regulators, and this case highlights how successful we can be when we appropriately share high-quality whistleblower information and analysis with our law enforcement partners," said Enforcement Director James McDonald.

Under the applicable provision of the Dodd-Frank Act, whistleblowers are eligible to receive between 10 percent and 30 percent of the monetary sanctions collected, and the CFTC can pay awards on both CFTC enforcement actions and related actions by other agencies if certain conditions are met. The CFTC does not disclose any identifying information regarding a whistleblower except in limited circumstances and also does not disclose the name of the matter in which the whistleblower provided information or the exact dollar amount of the award.

Through 2018, the CFTC has awarded more than $85 million to whistleblowers in actions that have resulted in sanctions of over $675 million.

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