July 27, 2016. Washington, D.C. The U.S. Commodity Futures Trading Commission (CFTC) announced yesterday that it had made its fourth award to a whistleblower as part of the Commission’s Whistleblower Program created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
The award of approximately $50,000 was paid to a whistleblower who provided valuable information about violations of the Commodity Exchange Act (CEA). It was the third whistleblower award made in the last 10 months. The award represents between 10 percent and 30 percent of the monetary sanctions collected to date, and the whistleblower will be entitled to the same percentage of any additional amounts collected.
By law, the CFTC protects the confidentiality of whistleblowers and does not disclose information that might directly or indirectly reveal a whistleblower’s identity.
“Whistleblower tips are an increasingly important source of information for the Division, and we encourage anyone with knowledge of a violation of our statute to contact our Whistleblower Office as soon as possible,” said Aitan Goelman, Director of the CFTC’s Division of Enforcement.
All whistleblower awards are paid from the CFTC Customer Protection Fund established by Congress and financed entirely through monetary sanctions paid to the CFTC by violators of the CEA. No money is taken or withheld from harmed investors to fund the program.
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