CFTC Hands Out $1 Million Award to Two Whistleblowers

The US Commodity Futures Trading Commission (CFTC) announced that it has awarded nearly $1 million to two whistleblowers whose information led the CFTC to bring a successful enforcement action.

According to the press release, both whistleblowers provided significant information and substantial assistance to CFTC staff during the underlying investigation. But the CFTC granted a larger award to the first claimant because of the key role that claimant's information played in causing the CFTC to open the investigation in question and focusing CFTC staff's efforts during the investigation's earliest stages.

"The CFTC's Whistleblower Program already made history with the announcement of the largest-ever Dodd-Frank Act whistleblower award last month,"said CFTC Acting Director of Enforcement Vincent McGonagle."The CFTC will continue to reward deserving whistleblowers who help the CFTC root out misconduct."

"It is not always the case that the first tipster gets a higher award, but in this case, where both claimants significantly contributed to the action, it was the first claimant's information that played a key role in leading the CFTC to open an investigation,"added Whistleblower Office Director Christopher Ehrman.

Since issuing its first award in 2014, the CFTC has granted whistleblower awards amounting to approximately $300 million. Last month, the commission has granted its biggest award to a single whistleblower​ of nearly $200 million.