CFTC Awards Nearly $4 Million to Two Whistleblowers for Assistance in Resolving Violations

The Commodity Futures Trading Commission (CFTC) has announced the award of nearly $4 million to two whistleblowers whose information led to the successful enforcement of a covered action. The details provided by these whistleblowers formed the foundation of the CFTC's investigations, with one whistleblower reporting earlier and the other reporting the continuation of violative practices. The whistleblower who reported earlier received a higher award amount due to the timeliness of the reporting, among other factors.

“The violations resolved in the covered action related to the integrity of the markets the CFTC oversees and of the investigations it conducts,” said the CFTC, adding that both whistleblowers offered specific, credible, and timely assistance that significantly contributed to the resolution of the charges.

“Timely reports to the CFTC are critical for enforcement,” said Director of Enforcement Ian McGinley. “They help prevent further harm to customers or market participants and hold wrongdoers accountable to the fullest extent possible.”

Since its first award in 2014, the CFTC has issued approximately $390 million in whistleblower awards. Those awards are associated with enforcement actions resulting in over $3.2 billion in monetary sanctions.