CFTC Awards Whistleblower $3 Million, Total Awards Cross $1 Billion

The Commodity Futures Trading Commission (CFTC​) has announced an award of approximately $3 million to a whistleblower who provided specific, credible, and timely tip leading the CFTC to open an investigation and ultimately bring a successful enforcement action.

With this award, the CFTC has granted whistleblower awards associated with enforcement actions that have resulted in monetary sanctions totaling more than $1 billion. 

"This milestone illustrates that the CFTC's Whistleblower Program has had a tremendous impact on increasing our enforcement efforts in its short history," said CFTC Acting Director of Enforcement Vincent McGonagle. "In many of our actions, whistleblowers' assistance has been critical in revealing wrongdoing, and their tips ultimately conserve the CFTC's time and resources," McGonagle continued.

The CFTC's Whistleblower Program was created under Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The CFTC issues awards related not only to the agency's enforcement actions, but also in connection with actions brought by other domestic or foreign regulators if certain conditions are met.

The CFTC is an independent agency of the US government that regulates the US derivatives markets including forex. According to its latest anticipated monthly report, in January 2021​, the US retail FX market has a total positive change of more than 1 percent month-over-month from December 2020.