- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-06-20T15:37:00
A whistleblower received an $8 million award from the Commodity Futures Trading Commission (CFTC) for uncovering fraud—even though the agency deemed the whistleblower was culpable in the misconduct.
“Based on the whistleblower’s involvement in the underlying conduct, the whistleblower provided extremely valuable insider information at a critical time during the investigations,” said Brian Young, CFTC whistleblower office director, in a Monday press release.
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The Securities and Exchange Commission announced its second $37 million whistleblower award in as many weeks with four claimants vying for the payout, but only one reaping the benefits.
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.
A measure to save the whistleblower program at the CFTC was signed into law by President Joe Biden, providing enough funding to keep the program running through October 2022. What lies beyond the bill’s support?
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.
