On Friday, the U.S. Commodity Futures Trading Commission (CFTC) said it awarded over $1.8 million to two whistleblowers. Their tips helped bring enforcement cases to a successful close, according to a press release from the agency.
The CFTC emphasized the importance of whistleblowers in uncovering fraud and protecting investors, especially in complex financial markets. The awards come from the agency’s whistleblower program, created by the Dodd-Frank Act, which rewards people who give original information that leads to monetary penalties in enforcement cases.
“We are grateful to the whistleblowers for coming forward,” said Cynthia Lie, acting director of the CFTC’s Whistleblower Office. “Like many before them, these whistleblowers showed courage and commitment to the public interest.”
The commission did not share details about the specific cases linked to the awards, in line with rules protecting whistleblower identities. Still, it said the information from the awardees was key to finding misconduct and helped return stolen funds to affected investors.
Since 2014, the CFTC has paid over $395 million to whistleblowers whose tips led to enforcement actions resulting in penalties of more than $3.3 billion. This shows the program’s increasing impact.
Eligible whistleblowers can get 10% to 30% of the money collected in related enforcement actions. These awards are paid from the Customer Protection Fund established by Congress, not from funds owed to harmed customers.
The CFTC urges anyone with information about possible violations of the Commodity Exchange Act to come forward. The agency highlights both confidentiality and financial rewards as key parts of its whistleblower program.
