- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-02-16T16:53:00
The Commodity Futures Trading Commission (CFTC) appointed Brian Young as director of its whistleblower office.
In announcing the move in a press release Thursday, CFTC Chairman Rostin Behnam emphasized the critical role whistleblowers play in assisting the agency to be a “strong cop on the beat.”
“Much of our Division of Enforcement’s success is tied to the strength of our whistleblower office,” Behnam said. “[Young]’s extensive experience covering the issues directly impacting our markets will ensure the continued success of the CFTC’s whistleblower program and the urgent need to provide individuals who have information the assurances needed to come forward.”
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“Unreasonably delayed reporting” cost one of two claimants whom will unevenly split a $4 million whistleblower award from the Commodity Futures Trading Commission for providing information that led to a successful enforcement action.
The Commodity Futures Trading Commission announced a landmark whistleblower award of approximately $1.25 million to an individual in an internal compliance or audit function who came forward with information on misconduct occurring at his or her employer.
The Commodity Futures Trading Commission would like to learn more about how regulated entities might be using artificial intelligence in their compliance efforts, along with other applications.
Two pairs of claimants will receive whistleblower awards totaling more than $98 million and $24 million, respectively, for information they provided to the Securities and Exchange Commission that led to an enforcement action.
Discrimination against whistleblowers in the U.K. has risen to such a level that the government may need to actively pursue plans to afford greater legal protection, as well as introduce financial awards to compensate for their “career suicide.”
The Department of Justice released the details of its long-awaited corporate whistleblower awards pilot program that will prioritize reporting in areas of corporate crime not currently covered by existing whistleblower programs.
