SEC Whistleblower Lawyer Blog
The U.S. Commodity Futures Trading Commission (“CFTC”) announced on April 4, 2016 an award of more than $10 million to a whistleblower who provided important, original information that led to a successful CFTC enforcement action.
The award is the largest made by the CFTC’s whistleblower program, according to a CFTC press release.
The CFTC whistleblower program, like the SEC’s program, was created by the 2010 Dodd-Frank Act. It allows for payment of monetary awards to whistleblowers who voluntarily provide the CFTC with original information about violations of the Commodity Exchange Act (“CEA”) that lead the CFTC to bring an enforcement action that results in more than $1 million in sanctions. The total amount of the whistleblower award, according to the CFTC’s program website, is between 10 and 30 percent of the monetary sanctions collected in the CFTC action.