The Commodity Futures Trading Commission (CFTC) has issued its first award to a whistleblower living in a foreign country since the program’s inception. The commission awarded more than $70,000 to a whistleblower who contributed to an ongoing investigation and led the CFTC to a successful settlement.
It also is the sixth award to a whistleblower for providing valuable information about violations of the Commodity Exchange Act (CEA).
“This award is significant because it signals to whistleblowers around the world that anyone with information about potential violations of the Commodity Exchange Act can participate in the CFTC’s Whistleblower Program,” CFTC Enforcement Division Director James McDonald said in a press release. “The award also serves as another example of the increasing significance of whistleblowers in our enforcement program, a trend I expect to continue going forward.”
The award is the second the commission has issued under newly enhanced Whistleblower Rules, which strengthened anti-retaliation protections for whistleblowers and improved the process for claims review, according to the release.
The award demonstrates the international reach of the Whistleblower Program, underscoring that any person worldwide who has information about potential violations of the CEA can become a whistleblower by simply submitting a tip to the CFTC’s Whistleblower Office’s website.