“Unreasonably delayed reporting” cost one of two claimants whom will unevenly split a $4 million whistleblower award from the Commodity Futures Trading Commission (CFTC) for providing information that led to a successful enforcement action.
The CFTC, and many federal agencies, have created whistleblower programs to encourage people to speak out about illegal activity. If information meets certain criteria, whistleblowers are rewarded by receiving 10 percent to 30 percent of a penalty paid to the CFTC, or in some cases, to a foreign regulator. The CFTC whistleblower program has paid out $390 million in awards since its inception in 2014.
