Washington, D.C. – The Commodity Futures Trading Commission (CFTC) announced today the distribution of approximately $4.5 million in awards to seven whistleblowers. These awards stem from information provided that successfully contributed to multiple enforcement actions undertaken by the CFTC and another regulatory body.
This marks the largest single-day issuance of awards by the CFTC, with four separate orders recognizing the contributions of the whistleblowers. The CFTC did not disclose the specific enforcement actions connected to the awards, citing confidentiality protections for the individuals involved.
“Whistleblowers provide information from a variety of vantage points that helps preserve market integrity and fairness,” stated Ian McGinley, Director of Enforcement. “The multiple awards the CFTC is granting today serve as a warning to would-be wrongdoers across the markets we oversee that anyone may blow the whistle on their misconduct.”
Brian Young, Director of the Whistleblower Office, emphasized the broad scope of the program, stating, “Today’s awards illustrate the CFTC’s Whistleblower Program is open to nearly anyone who voluntarily provides original information about a violation, including victims, witnesses, insiders, market participants, and employees.”
With these four orders, the CFTC has issued a record-breaking 12 whistleblower awards during the current fiscal year. Since the program’s inception in 2014, the CFTC has awarded roughly $380 million to whistleblowers, resulting in enforcement actions that have levied nearly $3.2 billion in monetary sanctions.
Whistleblowers are eligible to receive between 10 and 30 percent of the monetary sanctions collected. These awards are funded entirely by the CFTC’s Customer Protection Fund, which is financed through penalties paid by those violating the Commodity Exchange Act (CEA). The agency maintains strict confidentiality protocols to protect whistleblower identities, revealing information only in limited circumstances.
Individuals with information regarding potential violations of the CEA or CFTC regulations are encouraged to submit a tip electronically through the agency’s online Form TCR. Further information about the CFTC’s Whistleblower Program can be found at Whistleblower.gov.
Source: CFTC.gov
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