CTFC Gives First Whistleblower Award to Foreign National
July 16, 2018. Washington, DC – The Commodity Futures Trading Commission (CFTC) today announced an award of over $70,000 to a whistleblower who significantly contributed to an ongoing CFTC investigation and led the CFTC to a successful settlement. The award is the first made by the CFTC’s Whistleblower Program to a whistleblower living in a foreign country and the sixth award to a whistleblower who provided valuable information about violations of the Commodity Exchange Act (CEA).
The award demonstrates the international reach of the Whistleblower Program, underscoring that any person worldwide who has information about potential violations of the CEA can become a whistleblower.
“The ability of foreign nationals to qualify for whistleblower rewards under U.S. laws is a breakthrough in the worldwide fight against corruption,” said whistleblower attorney Stephen M. Kohn.
“This award is significant because it signals to whistleblowers around the world that anyone with information about potential violations of the Commodity Exchange Act can participate in the CFTC’s Whistleblower Program. The award also serves as another example of the increasing significance of whistleblowers in our enforcement program, a trend I expect to continue going forward,” stated James McDonald, Director of the CFTC’s Division of Enforcement.
The CFTC’s Whistleblower Program, established as part of the Dodd-Frank Act, pays monetary awards to eligible whistleblowers who voluntarily provide the CFTC with original information on violations of the Commodity Exchange Act that leads to a successful enforcement action resulting in monetary sanctions exceeding $1,000,000. Rewards under the program are mandatory for qualified whistleblowers, and must be paid in the range of 10-30% of the collected proceeds.
