CFTC Issues First Whistleblower Program Award

Posted on June 9th, 2014 at 8:00 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

The Commodity Futures Trading Commission (CFTC) has made its first award to a whistleblower as part of its whistleblower program created by the “Dodd-Frank” Act. The tipster will receive approximately $240,000 in exchange for providing actionable information about violations of the Commodity Exchange Act.

The CFTC's whistleblower program offers monetary awards to those who voluntarily provide information about violations of the Commodity Exchange Act resulting in more than $1 million in monetary sanctions. Whistleblowers are eligible for 10 to 30 percent of fines collected. The Commission also can pay awards based on monetary sanctions collected by other agencies in actions that are related to a successful CFTC action.

According to director of the commission’s Whistleblower Office, the CFTC is attracting high-quality tips and cooperation which it might not otherwise receive and which already is having an impact on CFTC’s enforcement mission.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags:

Return to Archive

TESTIMONIALS

Previous
Next

I want to thank you for your excellent professional representation. It was greatly appreciated.

Michael M.

LATEST NEWS AND ARTICLES

October 20, 2021
5 First-of-Their-Kind SEC Enforcement Actions Announced

Securities and Exchange Commission (SEC) Enforcement Director Gurbir Grewal recently discussed notable first-of-their-kind enforcement actions that his division has pursued.

October 19, 2021
FINRA Targets SPACs in Most Recent Exam Sweep

The Financial Industry Regulatory Authority (FINRA) has begun an examination sweep of advisors’ involvement with special purpose acquisition companies (SPACs).

October 18, 2021
SEC’s Statement on Complex Exchange-Traded Products

The Securities and Exchange Commission (SEC) recently voted to approve a pair of rule changes proposed by Cboe BZX Exchange, Inc. to list and trade shares of new exchange traded-products: the 2x Long VIX Futures ETC and the -1x Short VIX Futures ETF.