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SEC Whistleblower Lawyer Blog

Articles Tagged with whistleblower award

CFTC-to-Issue-Whistleblower-Award-of-Approximately-290000-1024x711-300x208The Securities and Exchange Commission (SEC) announced on September 24, 2018 that it has awarded nearly $4 million to an overseas whistleblower.

The overseas whistleblower provided a tip that led the SEC to open an investigation. Further, the overseas whistleblower’s assistance helped the SEC bring a successful enforcement action.

This is one of the few instances in which the SEC issued a whistleblower award to an overseas whistleblower. The award indicates that any individual, overseas or in the United States of America, that voluntarily provides the SEC with original, relevant information is eligible to participate in the whistleblower process, be afforded the protections of the process, and obtain a whistleblower award.

What’s-In-a-Name-Whistleblowers-300x300The U.S. Commodity Futures Trading Commission announced that it has awarded more than $45 million to whistleblowers. This includes a recent $30 million award to a whistleblower, the largest single award in the program. A second whistleblower award of $70,000 is the first to be awarded to a resident of a foreign country. Both individuals provided critical information that led to successful outcomes.

The program encourages individuals to report misconduct and violations of the Commodities Exchange Act (CEA.) Whistleblowers are offered protection against retaliation for reporting, and these awards are given for successful recovery.

According to the CFTC’s website, the Whistleblower Program “was created by section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act).  The CFTC pays monetary awards to eligible whistleblowers that voluntarily provide the CFTC with original information on violations of the CEA that leads the CFTC to bring a successful enforcement action resulting in monetary sanctions exceeding $1,000,000.”

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