- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2024-11-13T20:23:00
“Unreasonably delayed reporting” cost one of two claimants whom will unevenly split a $4 million whistleblower award from the Commodity Futures Trading Commission (CFTC) for providing information that led to a successful enforcement action.
The CFTC, and many federal agencies, have created whistleblower programs to encourage people to speak out about illegal activity. If information meets certain criteria, whistleblowers are rewarded by receiving 10 percent to 30 percent of a penalty paid to the CFTC, or in some cases, to a foreign regulator. The CFTC whistleblower program has paid out $390 million in awards since its inception in 2014.
The names of whistleblowers, specific case information, and the exact amounts awarded are redacted by the CFTC in order to protect the privacy and/or safety of tipsters, as required under the Commodity Exchange Act.
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A whistleblower received an $8 million award from the Commodity Futures Trading Commission for uncovering fraud—even though the agency deemed the whistleblower was culpable in the misconduct.
The Commodity Futures Trading Commission appointed Brian Young as director of its whistleblower office.
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