The US Commodity Futures Trading Commission (CFTC . The CFTC Whistleblower Reward Program provides whistleblowers with a strong monetary incentive, as well as anti-retaliation protections, for reporting wrongdoing to the CFTC. The CFTC Whistleblower Reward Program. The conduct was already under examination or investigation, and the original information significantly contributed to the success of the action. 165.20(b). This is the first comprehensive work on asset recovery, written by renowned practitioners and academics representing different legal systems and countries, all of whom have extensive experience in the asset recovery field. On July 27, the CFTC announced an approximately $9 million whistleblower award to a claimant who reported "specific, credible and timely" information that led to a successful Commodity Exchange Act (CEA) enforcement action. All award claims for this Notice must be received no later than February 17, 2022. The CFTC's whistleblower program is smaller than the SEC's, having paid out $120 million compared to the SEC's $500 million. To learn more about the CFTCs Whistleblower Program, please visit the programs website athttps://www.whistleblower.gov/. View CFTC whistleblower award orders, learn how to qualify for whistleblower awards, and learn how the CFTC determines award sizes. How to Apply for an Award. The main types of violations that may qualify for a CFTC whistleblower award include: . A delay in reporting commodities fraud can potentially disqualify a whistleblower from recovering an award or . As we've reported in two recent blog posts, the Commodity Futures Trading Commission's recent award of $200 million to a whistleblower announced on October 21 is certainly the largest the CFTC . Not only is it the largest CFTC award made, it is the largest whistleblower award ever made by a government whistleblower program," said Erika Kelton, a whistleblower attorney and partner at . Recent federal legislation in finance and health reform have cemented legal protections and mechanisms for whistleblowing. This book provides a thorough guide and history to the whistleblower's legal rights. The information also assisted two related regulatory actions, one conducted . The U.S. Commodity Futures Trading Commission (CFTC)announced the award in a statement on Thursday, but did not disclose the recipient or details about the case or the precise amount. Director McDonald said the delay was "unreasonable" and the whistleblower could have received a larger award had this person not waited. On July 12, 2018, the CFTC announced its largest-ever whistleblower award given to an individual. Found inside Page 1085This form should be used by persons making a claim for a whistleblower award in connection with information provided to the CFTC or to another agency in a related action . In order to be deemed eligible for an award , the whistleblower The legislation, which was passed by Congress last month, establishes a new account to support a whistleblower award program at the Commodity Futures Trading Commission. In order to qualify for an award, a whistleblower who significantly contributed to the success of an enforcement action must demonstrate that there is a "meaningful nexus" between the information provided and the CFTC's ability to successfully complete its investigation, and to . According to whistleblower advocates, the CFTC Whistleblower Program's recent growth and success has nearly depleted the fund. So far, the US watchdog has awarded around $300 million to whistleblowers for their help since the first award was issued in 2014. Found inside Page 39-254, 2015)] The Commodity Futures Trading Commission (CFTC) made its first whistleblower award, in the amount of $240,000, in mid-2014. Its second award of about $290,000 was announced in September 2015. Awards are available, under the How to Apply for an Award. The CFTC whistleblower reward program, established in 2010 under the Dodd-Frank Act, pays whistleblower awards to eligible individuals who voluntarily provide the CFTC with "original information" on violations of the Commodity Exchange Act that leads to a successful enforcement action resulting in monetary sanctions exceeding $1,000,000. On October 21, the U.S. Commodity Futures Trading Commission (CFTC) announced a whistleblower award of nearly $200 million. All award claims for this Notice must be received no later than February 17, 2022. In ordering the award, the CFTC. Washington, D.C. The Commodity Futures Trading Commission today announced an award of nearly $200 million to a whistleblower whose specific, credible, and timely original information significantly contributed to an already open investigation and led to a successful enforcement action, as well as to the success of two related actions, by a U.S. federal regulator and a foreign regulator. The whistleblower provided valuable information regarding violations of the Commodity Exchange Act. The CFTC issues awards not only for the agencys enforcement actions, but also for actions brought by other domestic or foreign regulators if certain conditions are met. The CFTC's Whistleblower Program was created under Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The cap on the Fund was set in 2010, when the whistleblower program was created. This includes violations or fraud in connection with: Approximately 65% of whistleblower cases filed at the CFTC involved charges of commodities fraud, market manipulation schemes and spoofing. 2021-10-21T19:59:00Z. According to the press release, the individual contributed 'significantly' with critical information that led to a successful enforcement action of two related cases by a US federal regulator and a foreign one. A whistleblower may receive an award of between 10% and 30% of the total monetary sanctions collected. Top CFTC Whistleblower Awards 2019. Today the CFTC today announced an award of approximately $9 million to a whistleblower that provided original information that led to a successful enforcement action. On June 9, 2020, the CFTC issued a $6 million award to a whistleblower who voluntarily provided original information that led the CFTC to bring a successful enforcement action. Title: Scanned Document Created Date: 10/20/2021 5:01:49 PM Find the order, On March 4, 2019, the CFTC announced an award of over $2 million to a whistleblower. Find the order, On September 29, 2015, the CFTC announced an award of $290,000 to a whistleblower. Whistleblowers are the most potent weapon of law enforcement and regulators.
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