The Commodity Futures Trading Commission announced Monday the award of $9 million to a whistleblower whose “specific, credible, and timely tip” led to a successful enforcement action.

The payout is one of the five largest ever awarded since the CFTC whistleblower program began in 2014, according to a press release.

“We recognize that often whistleblowers come forward to report misconduct at great personal and professional risk,” said CFTC Director of Enforcement James McDonald. “Cases like this serve as a reminder that the Whistleblower Program can reward that courage in a very real way, helping to soften the blow of any adverse consequences those whistleblowers might face.”

In the whistleblower order, the CFTC said the whistleblower provided “original information that led to the successful enforcement of a covered action.”

Since issuing its first award in 2014, the CFTC has awarded approximately $110 million to whistleblowers, according to the CFTC’s whistleblower Website. The Commission actions associated with those awards have resulted in sanctions orders totaling nearly $900 million. This year, the CFTC has announced eight covered enforcement actions, including a $22.6 million enforcement action against Dinar Corp., My Monex, and Husam Tayeh, and a $10 million enforcement action against Deutsche Bank AG and Deutsche Bank Securities.

 

Aaron Nicodemus covers regulatory policy and compliance trends for Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass.

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