CFTC Awards $8M to Five Whistleblowers -- A Sign of More CFTC Whistleblower Awards To Come?

By the Constantine Cannon Whistleblower Team On Monday (June 1), the Commodity Futures Trading Commission (CFTC) announced its award of more than $8 million to five whistleblowers “whose information led to the successful resolution of an enforcement action against a fraudulent scheme.”[1]  It is the fourth CFTC award under the current Trump Administration and comes just a month after the agency anointed Raagnee Beri as the CFTC’s new Whistleblower Chief....

CFTC Issues Annual Whistleblower Report Highlighting Continued Success of CFTC Whistleblower Program

As it is required to do every year, the Commodity Futures Trading Commission (CFTC) just released its Annual Report on the CFTC Whistleblower Program, which provides rewards and protections to whistleblowers providing the agency with information on Commodities Exchange Act violations.  The 2024 Report covers the period from October 1, 2023 through September 30, 2024 and as with its previous annual reports, details the continued growth and success of the...

CFTC Whistleblower Program at Risk?

Last week, the Commodity Futures Trading Commission (CFTC) awarded over $8 million to a whistleblower whose information led to multiple enforcement actions through the CFTC’s Whistleblower Program. Under this program, whistleblowers who provide information to the CFTC that leads to a successful enforcement action may receive up to 30% of the government’s recovery. However, there is an issue as to whether there will be enough government funding to keep this...

Top Ten SEC and CFTC Whistleblower Awards for 2023

It was a relatively quiet year for the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in their payout of whistleblower awards under their respective whistleblower programs.  Under the SEC Program and CFTC Program -- both enacted under the Dodd-Frank Wall Street Reform and Consumer Protection Act -- whistleblowers who provide information that leads to a successful government enforcement action can recover up to 30% of the...

Grassley Leads Bipartisan Effort to Shore Up CFTC Whistleblower Program

On Wednesday (July 26), Senator Chuck Grassley (R-Iowa) announced his bipartisan charge to adopt legislation to strengthen the Commodity Futures Trading Commission (CFTC) Whistleblower Program.  This is the program that both encourages and protects individuals for coming forward with information relating to potential violations of the Commodities Exchange Act and rewards them with up to 30 percent of any government recovery. Joining Senator Grassley in this effort is Representative Zach...

CFTC Whistleblower Chief Steps Down

Today, the Commodity Futures Trading Commission (CFTC) announced the departure of Chris Ehrman, the Director of the CFTC's Whistleblower Office since 2013.  The Associate Director of the Whistleblower Office, Christina McGlosson, will serve as Acting Director. Under Mr. Ehrman's rein, the CFTC saw tremendous growth in its Whistleblower Program.  In fact, last year was a record-breaking year for the program, capped by its blockbuster $200 million award to the Deutsche...

CFTC Whistleblower Alert: Whistleblowers Wanted Relating to Misconduct in Carbon Markets

On Tuesday, the Commodity Futures Trading Commission (CFTC) issued a Whistleblower Alert calling for help in identifying fraud or manipulation in the carbon markets.  The CFTC is the principal federal watchdog for fraud involving the commodities markets.  Under the CFTC Whistleblower Program, those who voluntarily provide information that leads to a successful CFTC enforcement action are entitled to an award of up to thirty percent of any government recovery.  Certainly...

Fiscal Year 2022 Sets New Records for CFTC Whistleblower Program

Fiscal year 2022 was sure to be a record-breaking year for the Commodity Futures Trading Commission Whistleblower Reward Program, as it started with a $200 million whistleblower award – an award so large that Congressional intervention was needed.  The CFTC Whistleblower Program’s annual report to Congress for Fiscal Year 2022 confirms this, reporting more than $203 million in total awards. Created by the Dodd-Frank Act, the CFTC Whistleblower Program pays...

CFTC’s Largest-Ever Whistleblower Award Edges out SEC and IRS Awards and Acts as a Calling Card for the CFTC Whistleblower Reward Program Globally

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 has ever made, but also the largest award made under any federal whistleblower-reward program to a single whistleblower, including the False Claims Act.  To appreciate the significance of this award, we wanted to give it additional context. Prior to last...

CFTC Whistleblower Program 2021 Annual Report Shows Continuing Strength of Program as it Manages Challenging Year

The Commodity Futures Trading Commission issued its required annual report to Congress covering the CFTC Whistleblower Reward Program.  The report details the successes of the program over the 2021 fiscal year.  Created by the Dodd-Frank Act, the CFTC Whistleblower Program pays awards to eligible whistleblowers who voluntarily provide the Commission with original information, about matters within the CFTC’s jurisdiction, that lead to the recovery of more than $1 million in...