CFTC Hands Out First Whistleblower Award

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The Commodity Futures Trading Commission has announced the first award under its whistleblower program. The CFTC will pay an anonymous recipient approximately $240,000 for providing information about violations of the Commodity Exchange Act (CEA). The CFTC did not disclose any other details surrounding the award, including the total amount collected by the CFTC. Under the whistleblower program, individuals who report violations of the CEA leading to more than $1,000,000 in sanctions are eligible to receive between 10% and 30% of monies collected. 

The CFTC’s press release is available here.

 

Topics:  CEA, CFTC, Whistleblower Awards, Whistleblowers

Published In: Civil Remedies Updates, Finance & Banking Updates, Labor & Employment Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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