2019 was another strong year for whistleblowers, who once again collectively recovered billions of dollars for the government and hundreds of millions of dollars in whistleblower rewards through their filing of lawsuits under the qui tam provisions of the False Claims Act. Whistleblowers this past year also continued to secure financial rewards under the Dodd-Frank SEC Whistleblower and CFTC Whistleblower programs,...
CFTC Whistleblower Program Annual Report Shows Program Open for Business, yet Challenges Persist
Fifteen million dollars is how much the United States Commodity Futures Trading Commission’s (CFTC) Whistleblower Program paid whistleblowers in FY 2019 according to the agency’s annual report to Congress. This amount includes:
$7 million to one individual whistleblower;
Over $2 million to a non-insider whistleblower who provided independent analysis of market data; and,
You know about fraud, waste, abuse, or corruption by an individual or a company. Someone is getting by with cheating -- taking money from the government, taxpayers, or investors, or even harming others, such as patients. You are deeply troubled about it and want the proper authorities to stop it. You are worried whether you will be heard, taken seriously, and protected. You wonder if your information fits within a...
Catch of the Week — Merrill Lynch Commodities Inc.
Merrill Lynch Commodities Inc (“Merrill”), a commodity trading subsidiary of Bank of America Corporation, agreed on June 25th to two $25 million settlements with both the Department of Justice (“DOJ”) and the Commodity Futures Trading Commission (“CFTC”) to resolve allegations it conducted deceptive trading practices in United States commodities markets.
Calling all FCPA Whistleblowers — The CFTC Wants You!
If you have information on Foreign Corrupt Practices Act (FCPA) violations in the commodities or derivatives markets, the Commodity Futures Trading Commission (CFTC) wants to hear from you. The agency made this clear in a recently-issued CFTC "Whistleblower Alert" calling on all FCPA whistleblowers to step forward and report what they know.
The agency even dangled the potential for monetary rewards for those...
On Monday, the Commodity Futures Trading Commission (CFTC) announced a whistleblower award of roughly $1.5 million. It is the latest in a string of whistleblower awards from an agency that has made it very clear that after a slow start in implementing its whistleblower program it is finally open for whistleblower business. CFTC Enforcement Director James McDonald could not have been more direct on this point:...
DOJ to Corporate America — Embrace the Whistleblower
In a clear push to companies to tighten up their internal compliance efforts, the DOJ Criminal Division recently announced a remake of the agency's guidelines for corporate compliance programs. The document, titled "The Evaluation of Corporate Compliance Programs," updates a previous version of the guidelines and is designed to provide more insight and context into the steps DOJ expects companies to take to ensure...