Facebook whistleblower Frances Haugen may have been the most prominent of all the whistleblowers who stepped forward this year, but numerous corporate whistleblowers who were not publicly known secured great success through the Securities and Exchange Commission and Commodity Futures Trading Commission whistleblower programs.
The biggest achievement in those Dodd-Frank whistleblower programs was a record whistleblower award of $200 million issued by the CFTC in October. Not only was that whistleblower reward the largest one ever paid by the CFTC, it was the largest whistleblower reward ever paid under any government whistleblower program.
The CFTC kept the identity of the whistleblower confidential, as required by law, and didn’t name the case as part of its efforts to protect the whistleblower’s identity. But reportedly the whistleblower was rewarded for providing information and assistance used in US and UK government investigations of Deutsche Bank AG for manipulating Libor, a global interest rate benchmark. Deutsche Bank paid a total of $2.5 billion to settle US and UK charges in 2015.
The SEC whistleblower program also set a record in fiscal year 2021 for the largest award paid to an individual SEC whistleblower, which was for $114 million. A close second was the SEC whistleblower award for $110 million paid in September.
FY 2021 saw the SEC award a staggering total $564 million to a record number of whistleblowers, far surpassing total whistleblower awards in past...
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