On April 4, 2016, the U.S. Commodity Futures Trading Commission announced it awarded $10 Million to Whistleblower for providing information leading to a successful enforcement action by the agency. The whistleblower names or identifying information and the details of whistleblower cases will not be revealed in order to protect the identity and confidentiality of whistleblowers.
Under the Commodity Futures Trading Commission (CFTC) Whistleblower Program, an individual who provides the CFTC with original information leading to an enforcement action that results in over $1 million in monetary sanctions is eligible to receive an award of 10 to 30 percent of the amount collected. The statute also provides whistleblowers with protections to help ensure that insiders can approach the CFTC with information without fear of retaliation.
“By providing robust financial incentives and enhanced protections to whistleblowers, the Commission incentivizes people to come forward with high quality information about serious violations of the law that we might not otherwise uncover. An award this size shows the importance that the Commission places on incentivizing future whistleblowers,” said Aitan Goelman, Director of the CFTC’s Division of Enforcement.
The Commodity Futures Trading Commission said that future awards are expected to exceed this $10 million award.
