CFTC “Recognizes the Critical Role” of Whistleblowers for National Whistleblower Day

In recognition of National Whistleblower Day, the Commodity Futures Trading Commission (CFTC) released a statement to Whistleblower Network News highlighting the role whistleblower’s play in the agency’s enforcement efforts.

“The Commodity Futures Trading Commission recognizes the critical role whistleblowers play in our enforcement program every day,” Acting Director of the CFTC’s Whistleblower Office Christina McGlosson told WNN.

The CFTC further stated that:

Roughly 30 percent of all CFTC enforcement investigations stem from whistleblowers, and information from whistleblowers assisted in enforcement actions totaling more than $3 billion. The CFTC’s Whistleblower Office issues alerts to the public to encourage potential whistleblowers to come forward to help hold wrongdoers accountable.

The CFTC also acknowledges the personal sacrifices many whistleblowers make when they come forward with information about misconduct. The CFTC continues to issue awards to whistleblowers whose information leads to successful enforcement actions. To date, the CFTC has awarded approximately $330 million to whistleblowers. For National Whistleblower Appreciation Day, the CFTC will post on its social media accounts acknowledgments of whistleblowers’ significant contributions to combating violations since the establishment of the CFTC’s Whistleblower Program in early 2011.

Established with the passage of the Dodd-Frank Act, the CFTC Whistleblower Program offers monetary awards and anti-retaliation protections to qualified whistleblowers.

On July 26, Senators Chuck Grassley (R-IA) and Maggie Hassan (D-NH) and Representative Zach Nunn (D-IA) introduced the bipartisan CFTC Whistleblower Fund Improvement Act of 2023. The bill addresses a funding crisis undermining the whistleblower award program by raising the cap on the fund used to pay awards.

On July 28, the Whistleblower Office of the Internal Revenue Service (IRS) released a statement for National Whistleblower Day.