CFTC Awards Over $4 Million to Insider Whistleblower, meaning the fine levied ranged between $13.33 million to $40 million.

The Commodity Futures Trading Commission (CFTC) announced an award of over $4 million to an insider whistleblower whose information led to the opening of an investigation into ongoing misconduct, meaning the fine levied ranged between $13,333,333.33 - $40,000,000.00 million.

The whistleblower, who had detailed knowledge of the complex products and transactions involved, alerted the CFTC to failures in compliance with rules designed to protect against fraudulent and deceptive practices. The whistleblower continued to cooperate with the Division of Enforcement (DOE) throughout the investigation.

The CFTC’s Whistleblower Program, established under the Dodd-Frank Act, has awarded more than $380 million since 2014, with associated enforcement actions resulting in over $3.2 billion in monetary sanctions.

The CFTC ensures confidentiality for whistleblowers, protecting their identities except in limited circumstances. Awards range from 10% to 30% of the monetary sanctions collected and are paid from the CFTC’s Customer Protection Fund, which is financed by monetary sanctions from violators, without using funds from injured customers.

TLDRS:

• The CFTC awarded over $4 million to an insider whistleblower for providing information that led to an investigation into ongoing misconduct, indicating fines between $13,333,333.33 - $40,000,000.00 million.
• The whistleblower, with detailed knowledge of complex products and transactions, alerted the CFTC to compliance failures related to fraudulent and deceptive practices and continued to assist throughout the investigation.
• The CFTC’s Whistleblower Program, created under the Dodd-Frank Act, has awarded over $380 million since 2014, contributing to more than $3.2 billion in monetary sanctions.
• The CFTC maintains strict confidentiality for whistleblowers, protecting their identities, and awards them 10% to 30% of the monetary sanctions collected.
• Whistleblower awards are funded through the CFTC’s Customer Protection Fund, which is financed by monetary sanctions from violators, without impacting funds for injured customers.
• There is interest in knowing more details about the actions taken, particularly if they relate to GameStop.
  • Does show that if anyone working for folks that have manipulated GameStop, you can get PAID for your information!