Archive

JP Morgan Whistleblower to Receive $30 Million Award

By the C|C Whistleblower Lawyer Team An unnamed whistleblower is set to receive a $30 million award from the Commodities Future Trading Commission (CFTC), according to Bloomberg, for reporting JPMorgan Chase & Co.’s failure to properly disclose that it was directing certain wealthy clients into investments that would be profitable for the bank. The conduct led to JPMorgan’s 2015 agreement to pay $367 million in...

Senator Grassley Proposes Important Whistleblower Amendments to GOP Tax Bill

By the C|C Whistleblower Lawyer Team Charles Grassley, the seven-term Iowa Senator and long-time whistleblower advocate, has introduced two amendments to the Senate’s “Tax Cuts and Jobs Bill” that would assist whistleblowers. One would prevent the double-taxation of certain whistleblower awards, while another would permit whistleblowers who report criminal tax frauds to collect awards from criminal fines...

CFTC Proposes Significant Changes to Its Whistleblower Program

By Jason Enzler Last week the U.S. Commodity Futures Trading Commission (CFTC) proposed extensive amendments to the regulations implementing its five-year old whistleblower program.  If adopted, the changes would expand and clarify its whistleblower protections, the scope of who can enforce whistleblower protections, the bases for how awards to whistleblowers will be calculated, and the process by which...

CFTC Announces Its Largest Whistleblower Reward (so far . . .)

By Jason Enzler This week the U.S. Commodity Futures Trading Commission (CFTC) awarded its largest bounty to date to a whistleblower -- over $10 million.  The award is the third payment to a whistleblower the CFTC has made under its whistleblower program implemented by the Dodd-Frank Act of 2010. The identities of the whistleblower and the defendant(s?) are shielded by law.  The Dodd-Frank Act and rules...

Compliance Officers in the Crosshairs?

By the C|C Whistleblower Lawyer Team Are compliance officers being targeted by government regulators?   An increased focus on individual accountability is making those professionals feel particularly vulnerable, even as regulators in the United States and abroad emphasize their partnership with compliance officers. Andrew Ceresney, director of the Security & Exchange Commission Division of Enforcement,

CFTC Announces Second Whistleblower Award

By the C|C Whistleblower Lawyer Team The CFTC announced its second ever whistleblower award yesterday under the agency's Dodd-Frank whistleblower program.  The anonymous whistleblower will receive roughly $290,000 for reporting information about violations of the Commodity Exchange Act that led to an  enforcement action.  This award follows nearly a year and a half after the CFTC announced its first...