CFTC Makes Its First Whistleblower Award
By the C|C Whistleblower Lawyer Team
Acting Chairman Mark Wetjen has just announced that the CFTC will issue its first award to a whistleblower under the agency’s Dodd-Frank Act whistleblower program. The whistleblower is expected to receive approximately $240,000 for providing information about violations of the Commodity Exchange Act.
According to Gretchen Lowe, the Acting Director of the CFTC’s Enforcement unit, “the whistleblower provided specific, timely and credible information that led to the Commission bringing important enforcement actions. The CFTC’s Whistleblower Program is attracting high-quality tips and cooperation we might not otherwise receive and is already having an impact on the Commission’s enforcement mission.” The Director of the CFTC’s whistleblower program, Christopher Ehrman, added that the CFTC’s whistleblower program is “a necessary enforcement tool for the agency, and my hope is that this award will send the strong message that the CFTC will pay for information that helps us do our jobs.”