What is the CFTC Whistleblower Program?

Question
What is the CFTC Whistleblower Program?
Answer

The Commission's whistleblower program was created by the Dodd-Frank Act, and it provides monetary awards to persons who voluntarily report violations of the Commodity Exchange Act (CEA) if the information leads the Commission to bring an action, or if the information significantly contributes to the success of a Commission action, that results in more than $1 million in monetary sanctions. The Commission can also pay awards based on monetary sanctions collected by other authorities in actions that are related to a successful CFTC action and are based on information provided by a CFTC whistleblower. The Dodd-Frank whistleblower provisions also prohibit any action taken to impede an individual from communicating directly with the Commission's staff about a possible violation of the CEA, as well as retaliation by employers against employees who come forward with information about possible violations. The CFTC has authority under the CEA to enforce the anti-retaliation provisions against offending employers. The Dodd-Frank whistleblower provisions also include certain confidentiality protections to whistleblowers.

FAQ Type
Order
0