CFTC awards $1.25M to compliance/audit whistleblower
By 
Kyle Brasseur2024-03-15T11:41:00
The Commodity Futures Trading Commission (CFTC) announced a landmark whistleblower award of approximately $1.25 million to an individual in an internal compliance or audit function who came forward with information on misconduct occurring at his or her employer.
Whistleblowers who work in compliance or audit roles have extra thresholds to meet to be eligible for awards under the whistleblower programs of the CFTC and Securities and Exchange Commission. In this case, the individual reported the matter internally and waited at least 120 days, as required, before contacting the CFTC that remedial action hadn’t been taken regarding the alleged misconduct.
The CFTC said the case was the first to apply its 120-day safe harbor provision related to compliance or audit whistleblowers.
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