CFTC To Make First Whistleblower Award For $240,000 — But Why?

The CFTC has a whistleblower award program that is separate from, but somewhat similar to, the SEC’s whistleblower award program. Both are mandated by the Dodd-Frank Act.

The CFTC has announced that the agency will make its first award to a whistleblower as part of its whistleblower program. According to the CFTC, the person will receive approximately $240,000 for providing valuable information about violations of the Commodity Exchange Act.

The CFTC announcement gives no details as to why the amount is being awarded.  While these awards are supposed to be confidential the enforcement action giving rise to the award is not named.

 

Topics:  CFTC, Dodd-Frank, SEC, 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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