- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-11-03T09:39:00
Most of the whistleblower tips received by the Commodity Futures Trading Commission (CFTC) in fiscal year 2023 related to fraud and misappropriation of crypto/digital assets.
The CFTC paid approximately $16 million to seven whistleblowers in FY23, which ended Sept. 30, according to the agency’s annual report to Congress on its whistleblower program. Of that figure, approximately $15 million was awarded to one of two whistleblowers in September. The other received about $300,000.
The agency received 1,530 whistleblower tips during FY23, slightly more than FY22 (1,506 tips) and roughly 50 percent more than it received in FY21 and FY20.
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The Commodity Futures Trading Commission appointed Brian Young as director of its whistleblower office.
Payment service providers could do more to support victims of fraud, including through better communication procedures, a review by the U.K. Financial Conduct Authority found.
The Commodity Futures Trading Commission solidified its view that it should be a primary regulator of cryptocurrencies with a record amount of cases regarding the digital asset space in fiscal year 2023.
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.
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.
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.
