Washington, D.C. — The Commodity Futures Trading Commission today announced it awarded over $4.5 million to a whistleblower who provided detailed information in support of an enforcement action. The whistleblower provided assistance to the Division of Enforcement (DOE) that was significant in both amount and quality. DOE staff greatly relied on the whistleblower’s industry expertise. 

“This award appropriately rewards a whistleblower who gave valuable information during multiple contacts with DOE staff,” said Director of Enforcement Ian McGinley. “The CFTC especially appreciates the critical role whistleblowers play in our enforcement actions. We recognize it is not always easy to come forward and provide support.”

“A whistleblower need not be an insider to provide the cooperation and information that leads to a successful CFTC enforcement action,” said Director of the Whistleblower Office Brian Young. “Anyone who provides actionable information – including victims, witnesses, and insiders – may qualify to receive a cash award under the CFTC’s Whistleblower Program.” 

About the CFTC’s Whistleblower Program

The Whistleblower Program was created under Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Since issuing its first award in 2014, the CFTC has granted whistleblower awards amounting to approximately $370 million. Those awards are associated with enforcement actions that have resulted in monetary sanctions totaling more than $3.2 billion. The CFTC issues awards related not only to the agency’s enforcement actions, but also in connection with related actions brought by other domestic or foreign regulators, if certain conditions are met.

The Commodity Exchange Act (CEA) provides confidentiality protections for whistleblowers. Regardless of whether the CFTC grants an award, the CFTC will not disclose any information that could reasonably be expected to reveal a whistleblower’s identity, except in limited circumstances. Consistent with this confidentiality protection, the CFTC will not disclose the name of the enforcement action in which the whistleblower provided information or the exact dollar amount of the award granted.

Whistleblowers may be eligible to receive between 10 and 30 percent of the monetary sanctions collected. All whistleblower awards are paid from the CFTC’s Customer Protection Fund, which was established by Congress, and is financed entirely through monetary sanctions paid to the CFTC by violators of the CEA. No money is taken or withheld from injured customers to fund the program.

* * * * *

Anyone with information related to potential violations of the CEA or the CFTC’s rules and regulations can submit a tip electronically by filing a Form TCR (Tip, Complaint or Referral) online.

Go to Whistleblower.gov for more information about CFTC’s Whistleblower Program.