The highly effective whistleblower program operated by the Commodity Futures Trading Commission (CFTC) has hit a new record. It recently granted its biggest reward to date, that we doubt it will soon be surpassed. Some $200 million were granted to an individual whose contributions led to legal actions taken against three cases; two in the United States led by a US federal regulator, and on abroad.
This unnamed individual contributed some much so, that he or she even proved the CFTC to be acting wrong in an unrelated case, after providing crucial information that the regulator had no idea of.
The CFTC clarified in a comment that “The whistleblower’s claim in connection with a third related action by a state regulator was denied because the whistleblower’s information was never shared with the state regulator,”
The whistleblower program has awarded nearly $300 to contributors. According to the law, these people can get as much as 30% of the sanctioned or confiscated sums.
The official number reveal that the CFTC had issued sanctions that go beyond $3 billion. The perpetrators are companies that had not followed regulatory guidelines, or firm that had directly committed crimes or wrongdoings. The program was birthed under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
