- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2019-06-25T16:58:00
The Commodity Futures Trading Commission has awarded a whistleblower $2.5 million for assisting it in an investigation, but the award could have been larger if the report was made sooner, the CFTC said.
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The CFTC announced a whistleblower award north of $1 million for a tipster who went through internal compliance at his or her company to get the information to regulators.
The CFTC made a handful of big payouts to whistleblowers in fiscal year 2019, but denied awards on 129 applications in the same timeframe.
A whistleblower who provided the Commodity Futures Trading Commission with “limited assistance” about misconduct that prompted an investigation was still awarded $7 million, the agency announced.
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.
Compliance Week Advisory Board members Eric Young and Ellen Hunt participate in a debate-style discussion regarding whistleblower-related topics including culture of compliance, monetary incentives, retaliation, and more.
The European Union’s strong stance on whistleblower protection has been undermined by member states’ wildly different approaches to punishing organizations that fail to safeguard people who raise concerns, says Wirecard whistleblower Pav Gill.
