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CFTC Whistleblower Hot Streak Continues with $9 Million Award

Posted  07/28/20
a silver whistle on top of a stack of cash
This week, the Commodity Futures Trading Commission (CFTC) announced a new whistleblower award of approximately $9 million, one of the five largest awards ever paid by the agency. It is the latest in a wave of awards—four over the last three months, all over $1 million—demonstrating the CFTC’s strong commitment to its whistleblowers. These awards make good on CFTC Enforcement Director James McDonald’s...

Tagged in: CFTC Whistleblower Reward Program, FCPA, Importance of Whistleblowers, Whistleblower Protection Laws, Whistleblower Rewards,

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What Potential Whistleblowers Need to Know About the Dodd-Frank Act

Posted  07/21/20
dodd frank whistleblower program

Tagged in: CFTC Whistleblower Reward Program, Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Importance of Whistleblowers, SEC Whistleblower Reward Program, Securities Fraud, Whistleblower Answers,

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Top Ten Whistleblower Developments of 2019

Posted  02/6/20
Slingshot and stones
By any measure, 2019 was a Very Big Year for whistleblowers.  Our annual Top Ten lists identified 2019’s most significant financial recoveries by whistleblowers, as well as recoveries in enforcement actions at the federal and state level involving government procurement, healthcare, financial, tax, and other types of fraud.  But the numbers, as impressive as they are, can’t tell the full story of the impact that...

Tagged in: CFTC Whistleblower Reward Program, Cybersecurity and Data Breaches, FCA Federal, Government Procurement Fraud, Healthcare Fraud, Importance of Whistleblowers, International Whistleblowers, Risk Adjustment Fraud, SEC Whistleblower Reward Program, Top 10,

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Top Ten SEC and CFTC Recoveries of 2019

Posted  01/24/20
Silver Whistle Hanging
2019 was another busy year for the SEC and CFTC.  Once again, the SEC netted hundreds of millions of dollars in penalties and fines from companies and individuals accused of defrauding investors, breaching fiduciary duties, and violating the securities laws.  And that’s in addition to the SEC’s robust FCPA enforcement in 2019.  Meanwhile, the CFTC continued to root out market manipulators and other fraudsters...

Tagged in: Accounting Fraud, CFTC Whistleblower Reward Program, FCPA, Financial and Investment Fraud, Importance of Whistleblowers, Market Manipulation and Trading Violations, Misrepresentations, SEC Whistleblower Reward Program, Securities Fraud, Top 10,

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Top Ten Whistleblower Awards of 2019

Posted  01/9/20
Whistleblower in Text
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,...

Tagged in: CFTC Whistleblower Reward Program, FCA Federal, FCA State, Importance of Whistleblowers, SEC Whistleblower Reward Program, Top 10, Whistleblower Rewards,

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CFTC Whistleblower Program Annual Report Shows Program Open for Business, yet Challenges Persist

Posted  11/15/19
Screenshot of CFTC Whistleblower Program web page
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,
  • Close to $1.5 million to a...

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

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How to Be a Whistleblower

Posted  07/19/19
How to be a whistleblower
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...

Tagged in: Auto Safety, CFTC Whistleblower Reward Program, Employment Issues, FCA Federal, FCA State, Importance of Whistleblowers, Private Insurance Whistleblower Reward Programs, Retaliation, SEC Whistleblower Reward Program, Whistleblower Answers, Whistleblower Protection Laws, Whistleblower Rewards,

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Catch of the Week — Merrill Lynch Commodities Inc.

Posted  06/28/19
MerrillLynchLogoOfBull
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.

DOJ Criminal Violations

This settlement resolved...

Tagged in: Catch of the Week, CFTC Whistleblower Reward Program, FCA Federal, Importance of Whistleblowers, Market Manipulation and Trading Violations, Whistleblower Eligibility, Whistleblower Rewards,

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Calling all FCPA Whistleblowers — The CFTC Wants You!

Posted  06/19/19
Businessmen Holding Foreign Currency in an Envelope
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...

Tagged in: CFTC Whistleblower Reward Program, FCPA, Importance of Whistleblowers, SEC Whistleblower Reward Program, Whistleblower Case, Whistleblower Eligibility, Whistleblower Rewards,

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Ted Siedle is the rare SEC whistleblower who allows us to put a face to the name.

Posted  05/24/19
Ted Siedle Whistleblower Headshot
After two years of waiting, the recipient of what was the largest whistleblower award to date under the SEC Whistleblower Program when it was first announced in 2017, was finally paid by the SEC. This week, he received his share of a $50 million reward to two whistleblowers for exposing conflicts of interest at JP Morgan that led to a $267 million fine by the SEC. Last year, the whistleblower also received $30 million...

Tagged in: Anonymity, CFTC Whistleblower Reward Program, Importance of Whistleblowers, SEC Whistleblower Reward Program, Whistleblower Rewards,

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