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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2024-04-11T20:32:00Z By Kyle Brasseur
Earning self-reporting credit from the Commodity Futures Trading Commission is no simple task, Director of Enforcement Ian McGinley conceded.
2024-04-04T01:27:00Z By Jeff Dale
The Commodity Futures Trading Commission ordered an Australian swap dealer to pay $500,000 over admitted supervision failures related to a deficient spoofing surveillance tool.
2024-03-27T21:27:00Z By Aaron Nicodemus
A new report on corporate whistleblowing and hotline trends in 2023 found reporting volume at an all-time high, with key disparities uncovered between reports filed by third parties and those filed by employees.
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The Consumer Financial Protection Bureau is warning companies against intimidating potential whistleblowers by forcing them to sign broad nondisclosure agreements to deter misconduct from coming to light.
2024-07-19T16:20:00Z By Aaron Nicodemus
A whistleblower will be paid $37 million by the Securities and Exchange Commission for providing original, credible information that led to a successful enforcement action.
2024-07-16T16:48:00Z By Aaron Nicodemus
Anonymous employees of OpenAI accused the company of requiring employees to sign nondisclosure agreements (NDAs) that “prohibited and discouraged” them from reporting securities law violations to federal regulators.
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