The Commodity Futures Trading Commission announced on July 1 an award of $2 million to two “model whistleblowers” who provided the agency with “significant information” that prompted the CFTC to open an investigation.
The CFTC said it found numerous violations of the Commodity Exchange Act that were “directly based on information from the whistleblowers” and that the “multiple interviews and numerous documents the whistleblowers provided were highly informative and formed the basis of the CFTC’s investigation.”
The whistleblowers reported the same information to another organization, which conducted a separate investigation and shared its findings with the CFTC. Those findings “significantly assisted” the CFTC in building its case, the agency said.
Since establishing the Whistleblower Program, the CFTC has awarded more than $90 million to whistleblowers, while CFTC actions associated with those awards have resulted in sanctions orders totaling more than $730 million. The largest single award was approximately $30 million paid to one whistleblower.