CFTC Whistleblower Rewards Program
The CFTC whistleblower rewards program provides monetary incentives to individuals who submit information that leads to a successful enforcement action.
CFTC whistleblower reward program, established in 2010 under the Dodd Frank Act, pays whistleblower awards to eligible individuals who voluntarily provide the CFTC with original information on violations of the Commodity Exchange Act that leads to a successful enforcement action resulting in monetary sanctions exceeding $1,000,000. Rewards under the program are mandatory for qualified whistleblowers and must be paid in the range of 10-30% of the collected proceeds. Employers cannot retaliate against whistleblowers or encumber potential whistleblowers from communicating with the CFTC.
The CFTC saw a 63% increase in the number of tips and complaints filed under the Dodd Frank whistleblower program from those received in 2017. The increase is due to increased awareness of about the program. Whistleblowers have long been on the front lines of conducting effective financial regulation, as financial scandals ranging from Enron to tax fraud in Swiss banks have been uncovered because of whistleblowers. Paying whistleblower rewards is well established as one of the most effective ways to ensure that financial scandals come to light and to protect consumers and taxpayers from fraud and illegal conduct.
Our whistleblower attorneys have experience representing whistleblowers in cases involving complex financial fraud in the commodities markets. Kohn, Kohn & Colapinto currently represents CFTC whistleblowers under the confidential and “anonymous” whistleblower protection provisions of the Act and work closely with enforcement officials. We also have extensive experience representing international whistleblowers who reside in countries where whistleblowers must remain anonymous to protect their lives. KKC has arranged for agency officials to meet secretly face-to-face with major whistleblowers at international locations for which the agency officials have agreed to honor complete confidentiality.
If you would like to learn more about how to report fraud in commodities markets or violations of commodities laws under the CFTC whistleblower program, please contact Kohn, Kohn & Colapinto to discuss the matter at no charge.