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Difference between revisions of "CFTC Whistleblower Program"
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According to a recent report of the CFTC Whistleblower Office, the Office takes steps to protect whistleblower confidentiality. For example, in 2017 the Office considered 267 requests to produce documents from the investigation and litigation files of the Enforcement Division and found 16 requests to implicate whistleblower-identifying information. The Office worked with the Enforcement Division to remove whistleblower-identifying information or otherwise take steps to preserve whistleblower confidentiality. | According to a recent report of the CFTC Whistleblower Office, the Office takes steps to protect whistleblower confidentiality. For example, in 2017 the Office considered 267 requests to produce documents from the investigation and litigation files of the Enforcement Division and found 16 requests to implicate whistleblower-identifying information. The Office worked with the Enforcement Division to remove whistleblower-identifying information or otherwise take steps to preserve whistleblower confidentiality. | ||
== '''CFTC Whistleblower Awards''' == | |||
The table below identifies some of the largest CFTC whistleblowers awards: | |||
{| class="wikitable" | |||
! Whistleblower Award !! Date !! Basis for Whistleblower Award | |||
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| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/7767-18 $45 million] || August 2, 2018 || On August 2, 2018, the CFTC announced a $45 million award to multiple whistleblowers. [https://web.archive.org/web/20220705184519/https://markets.businessinsider.com/news/stocks/whistleblower-gets-largest-ever-cftc-award-for-exposing-the-isdafix-scandal-garson-segal-steinmetz-fladgate-llp-1027435727 Reports] indicate the award was related to ISDAFIX manipulation enforcement actions. | |||
|- | |||
| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/7753-18 $30 million] || July 12, 2018 || On July 12, 2018, the CFTC announced its largest-ever whistleblower award given to an individual. The whistleblower exposed that [https://web.archive.org/web/20220705184519/https://www.sec.gov/news/pressrelease/2015-283.html JP Morgan] did not properly disclose conflicts of interests to clients. Find the order [https://web.archive.org/web/20220705184519/https://www.whistleblower.gov/sites/whistleblower/files/Final%20Orders/16-WB-08.pdf here]. | |||
|- | |||
| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/7351-16 $10 million] || March 28, 2016 || On April 4, 2016, the CFTC announced a $10 million award given to an individual. The whistleblower provided “valuable information” regarding violations of the Commodity Exchange Act. Find the order [https://web.archive.org/web/20220705184519/https://www.whistleblower.gov/sites/whistleblower/files/Final%20Orders/16-WB-06.pdf here]. | |||
|- | |||
| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/8022-19 $7 million] || September 27, 2019 || On September 27, 2019, the CFTC issued a $7 million award to a whistleblower. CFTC Director of Enforcement James McDonald stated in the Press Release: “Forty percent of our investigations now involve whistleblowers. We expect that number to increase as the CFTC continues to expand its whistleblower program.” Find the order [https://web.archive.org/web/20220705184519/https://www.whistleblower.gov/sites/whistleblower/files/2019-09/19-WB-05.pdf here]. | |||
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| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/8175-20 $6 million] || June 9, 2020 || On June 9, 2020, the CFTC issued a $6 million award to a whistleblower who voluntarily provided original information that led the CFTC to bring a successful enforcement action. | |||
|- | |||
| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/7943-19 $2.5 million] || June 24, 2019 || On July 24, 2019, the CFTC issued a $2.5 million whistleblower award to an individual. The award was reduced due to the whistleblower’s delay in reporting. Director McDonald stated the delay was “unreasonable.” Find the order [https://web.archive.org/web/20220705184519/https://www.whistleblower.gov/sites/whistleblower/files/2019-06/19-WB-03.pdf here]. | |||
|- | |||
| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/7953-19 $2 million] || July 1, 2019 || On July 1, 2019, the CFTC issued a $2 million whistleblower award to two whistleblowers who provided multiple interviews and documents. Find the order [https://web.archive.org/web/20220705184519/https://www.whistleblower.gov/sites/whistleblower/files/2019-07/19-WB-04.pdf here]. | |||
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| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/7882-19 $2 million] || March 4, 2019 || On March 4, 2019, the CFTC announced an award of over $2 million to a whistleblower who conducted an "independent analysis" of market data, greatly aiding the investigation. Find the order [https://web.archive.org/web/20220705184519/https://www.whistleblower.gov/sites/whistleblower/files/2019-03/19-WB-01%20-%20Public%20Version.pdf here]. | |||
|- | |||
| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/7924-19 $1.5 million] || May 6, 2019 || On May 6, 2019, the CFTC announced a $1.5 million award to a whistleblower who first attempted internal reporting. The award was granted for both a CFTC action and a related action by another federal regulator. Find the order [https://web.archive.org/web/20220705184519/https://www.whistleblower.gov/sites/whistleblower/files/2019-05/19-WB-02%20-%20Public%20Version.pdf here]. | |||
|- | |||
| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/7882-19 $290,000] || September 29, 2015 || On September 29, 2015, the CFTC announced an award of $290,000 to a whistleblower. Two applicants applied, but only one received the award. | |||
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| [https://web.archive.org/web/20220705184519/https://www.cftc.gov/PressRoom/PressReleases/7767-18 $240,000] || May 20, 2014 || On May 20, 2014, the CFTC announced its first-ever whistleblower award of $240,000 for providing “specific, timely and credible information.” | |||
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