Archive

September 29, 2020

The CFTC has awarded a whistleblower approximately $250,000 for providing significant information that led to an investigation. Although the whistleblower also provided substantial assistance during the investigation, the award was reduced because the whistleblower did not report the violations in a timely manner. CFTC

Tagged in: Anonymity, CFTC Whistleblower Reward Program, Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Whistleblower Rewards,

September 11, 2020

Two whistleblowers who made specific, credible, and timely reports to the CFTC of an ongoing fraud have been awarded an undisclosed sum. The first whistleblower, based in the U.S., made the first report and provided information and documents that would have otherwise been difficult to obtain. The second whistleblower, based abroad, provided additional information, including the wrongdoers’ attempts to avoid detection. According to the CFTC, the whistleblowers’ joint efforts helped lead to a successful enforcement action. CFTC

Tagged in: Anonymity, CFTC Whistleblower Reward Program, Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, International Whistleblowers, Whistleblower Rewards,

September 4, 2020

An anonymous individual received a whistleblower reward in an unspecified amount, after providing information that caused the CFTC to open an investigation into ongoing fraudulent activity affecting individual investors. The whistleblower provided assistance and documentation, enabling the Commission to act quickly to stop fraud that would have been difficult to detect without the whistleblower's information. CFTC

Tagged in: CFTC Whistleblower Reward Program, Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Whistleblower Case, Whistleblower Rewards,

July 27, 2020

The CFTC has awarded approximately $9 million—one of the largest awards ever in the history of its whistleblower program—to an unnamed whistleblower. Because of the whistleblower’s timely tip, the CFTC was able to open an investigation that led to a successful enforcement action. CFTC

Tagged in: CFTC Whistleblower Reward Program, Fraud in CFTC-Regulated Markets, Whistleblower Case, Whistleblower Rewards,

July 21, 2020

Two unidentified whistleblowers will share a whistleblower reward totaling $1 million. While the underlying enforcement action is not identified, the CFTC disclosed that information from the first whistleblower caused it to open an investigation, and information from the second whistleblower, who participated in the underlying scheme, significantly contributed to the investigation. CFTC

Tagged in: CFTC Whistleblower Reward Program, Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Whistleblower Case, Whistleblower Rewards,

June 9, 2020

An unnamed whistleblower has been awarded $6 million for providing what the CFTC called specific, credible, and timely information that ultimately led to a successful enforcement action. Since the agency’s whistleblower program was started in 2014, the CFTC has recovered nearly $900 million through whistleblower tips, and has awarded over $110 million to the whistleblowers involved with those recoveries. CFTC

Tagged in: Anonymity, CFTC Whistleblower Reward Program, Fraud in CFTC-Regulated Markets, Whistleblower Rewards,

May 4, 2020

The CFTC has awarded four whistleblowers more than $2 million for jointly submitting a tip that led to a successful enforcement action as well as related actions brought by another regulator. CFTC

Tagged in: Anonymity, CFTC Whistleblower Reward Program, Fraud in CFTC-Regulated Markets, Whistleblower Rewards,

December 19, 2019

The CFTC will pay a $1 million award to an anonymous whistleblower. The CFTC stated that the whistleblower first provided the information through their employer's internal compliance program to another regulator, and subsequently provided the information directly to the CFTC. Furthermore, the CFTC stated that the whistleblower was eligible for the award even though they did not identify the exact wrongdoing ultimately charged by the CFTC, because the whistleblower's information led the CFTC directly to evidence in support of the CFTC's claims. CFTC

Tagged in: Anonymity, CFTC Whistleblower Reward Program, Fraud in CFTC-Regulated Markets, Whistleblower Case, Whistleblower Evidence, Whistleblower Rewards,

September 27, 2019

An undisclosed anonymous whistleblower who reported violations of the Commodity Exchange Act under the CFTC Whistleblower Reward Program has been awarded $7 million by the CFTC. The nature of the underlying CFTC investigation was not reported. CFTC

Tagged in: Anonymity, CFTC Whistleblower Reward Program, Fraud in CFTC-Regulated Markets, Whistleblower Case, Whistleblower Rewards,

July 1, 2019

Two whistleblowers have been jointly awarded $2 million for their significant contributions to the CFTC. In addition to coming forward and providing numerous interviews and documents, the whistleblowers also reported the violations to another agency, which conducted its own investigation and shared its findings with the CFTC. CFTC

Tagged in: CFTC Whistleblower Reward Program, Whistleblower Rewards,

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