March isn’t over yet, but the Commodity Futures Trading Commission has awarded seven whistleblowers approximately $12,125,000 for providing information supporting the CFTC’s enforcement efforts.
One whistleblower earned $10 million because they “voluntarily provided the Commission with original information that led to the successful enforcement of a covered action.” According to the heavily redacted order, the whistleblower came forth with “good background information, interesting color, and some context […] useful at the earliest stages of the investigation.” While the CFTC does not reveal what percentage of the recovery the whistleblower earned, the CFTC awards whistleblowers between 10-30% of the monetary sanctions they collect from wrongdoers. This information led the CFTC to draft the earliest round of subpoenas in that investigation.
The first whistleblowers in March 2022 were awarded approximately half a million dollars for information which helped “expand the scope of an existing investigation and lead the Division to other key evidence.” The order further details that the information “significantly contributed to the success of the Covered Action” and assisted the Commission in obtaining a settlement. The Commission found the information to be of “high quality, reliability, and specificity;” which other financial services whistleblowers should note when contemplating submitting Form TCR.
Most recently, four whistleblowers received $625,000 for “individually or...
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