(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has announced it will award more than $1 million to a whistleblower whose tip helped expose a scheme that violated the Commodity Exchange Act (CEA) and eventually led to the CFTC filing charges. The individual first provided the information through their employer\u2019s internal compliance program to another regulator and then subsequently provided that information directly to the CFTC.<\/p>\n
This award is significant because it recognizes that whistleblowers are eligible to receive an award for 1) being the original source of information the CFTC receives from another regulator, or 2) a tip that leads to evidence of a violation the CFTC ultimately charges, even if the reported conduct itself does not form the basis for those charges.<\/p>\n
\u201cToday\u2019s award shows how referrals from other regulators can have a meaningful impact on the Commission\u2019s enforcement program, and lead to whistleblower awards from the CFTC. We are committed to continuing to work with other regulators to maximize the impact and effectiveness of our enforcement and whistleblower programs,\u201d said CFTC Director of Enforcement James McDonald.<\/p>\n
\u201cAs the specific facts and circumstances of this matter demonstrate, the whistleblower does not have to identify the exact wrongdoing the CFTC ultimately charges\u2014it is enough for their information to lead CFTC investigators directly to evidence of one or more of the agency\u2019s claims,\u201d said CFTC Whistleblower Office Director Christopher Ehrman. \u201cHere, the whistleblower identified a problem in one area, and our Division of Enforcement used that knowledge and the whistleblower\u2019s subsequent assistance to uncover illegality in another.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"
(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has announced it will award more than $1 million to a whistleblower whose tip helped expose a scheme that violated the Commodity Exchange Act (CEA) and eventually led to the CFTC filing charges. […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-72311","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/72311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=72311"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/72311\/revisions"}],"predecessor-version":[{"id":72312,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/72311\/revisions\/72312"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=72311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=72311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=72311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}