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ARTICLE · 11 APRIL 2016

CFTC Announces Its Largest Whistleblower Award To Date

Morrison Foerster
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Yesterday's award dwarfs the two previous awards under the CFTC's whistleblower program, which were in the amounts of approximately $290,000 and $240,000.

United StatesFinance and Banking
James Schwartz
James Schwartz
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The Commodity Futures Trading Commission ("CFTC") yesterday announced by far its largest whistleblower award to date, agreeing to pay "more than $10 million" to a whistleblower who provided key information leading to a successful enforcement action.

In accordance with Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ("Dodd-Frank"), which established the CFTC's whistleblower program, the CFTC has not publicly disclosed information that could reasonably be expected to reveal the whistleblower's identity.  In addition to not identifying the whistleblower, the CFTC has specified neither the exact amount of the award nor the successful enforcement action for which the whistleblower provided information.

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