April 11, 2021

Volume XI, Number 101

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April 09, 2021

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April 08, 2021

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CFTC Issues $6 Million Whistleblower Award

On June 9, 2020, the U.S. Commodity Futures Trading Commission (CFTC) announced a $6 million whistleblower award to an individual under its Dodd-Frank whistleblower program.  The individual was rewarded for voluntarily providing specific, credible, and timely information that led the CFTC to bring a successful enforcement action.

The Director of the Whistleblower Office, Christopher Ehrman, said in the press release that the award reflects the impact of whistleblowers on the Agency’s enforcement program, noting “whistleblowers have led the CFTC to obtain nearly $900 million in monetary relief.”  The Director added that “sizeable awards like this one should signal to potential whistleblowers that there are real financial incentives to promptly reporting violations to the CFTC.”

This is the CFTC’s second award of 2020, and the largest so far this year.  A $2 million award was issued last month to four whistleblowers who provided a tip containing “synthesized information that highlighted the economic impact of the suspicious activity they identified,” as well as ongoing assistance during the CFTC’s invesgitation.  Per usual practice, the Agency did not provide details about the whistleblower or the information that led to the enforcement action.

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© 2021 Proskauer Rose LLP. National Law Review, Volume X, Number 171
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TRENDING LEGAL ANALYSIS

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About this Author

Harris M Mufson, Class/Collective Action Attorney, Proskauer
Senior Counsel

Harris Mufson is a senior associate in the Labor & Employment Law Department and a member of the Employment Litigation & Arbitration and Whistleblowing & Retaliation Groups.

Adept at counseling clients at every turn of the litigation process, Harris represents employers in a variety of industries, including financial services, health care, entertainment, sports and legal, with respect to a wide range of labor and employment law matters. These include compensation disputes, employment discrimination and retaliation, whistleblowing,...

212-969-3794
Scott S. Tan Law Clerk Proskauer  Employment Litigation & Arbitration Group
Law Clerk

Scott Tan is a law clerk in the Labor & Employment Law Department and a member of the Employment Litigation & Arbitration Group.

Scott earned his J.D. from the UCLA School of Law, where he served as a problem developer and member of the Moot Court Honors Board. He also worked as a research assistant for Dean Jennifer Mnookin and Professor Hiroshi Motomura.

212-969-3858
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