Recapping 2021 for the CFTC’s Whistleblower Program

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The Commodity Futures Trading Commission (CFTC) Whistleblower Program had a banner year in 2021, with its record-setting $200 million whistleblower award serving as the headline for the year.

There were plenty of other noteworthy awards issued that year, though, all of which demonstrated the agency’s commitment to protecting and rewarding whistleblowers who provide original, high-quality information that assists in successful enforcement actions.

A review of 2021

Headlines from 2021 for the program included:

$200 million award on October 21: This whistleblower provided specific, timely, credible original information that provided significant contributions to an open investigation and led to a successful enforcement action.
$3 million on April 23: This award was notable not for the amount, but because with this case the CFTC surpassed $1 billion in sanctions.
$1 million to two whistleblowers on November 22: This case was notable because one of the whistleblowers received more money, as their contributions led to the investigation being opened.
Four undisclosed awards, May 27: The CFTC announced four awards of undisclosed amounts in May. This case was notable because it involved whistleblowers who first made their disclosures to other entities. One whistleblower filed the information with the SEC first, which then referred their information to the CFTC. Though these whistleblowers all made their initial disclosures elsewhere, they all ended up filing Form TCR disclosures, making them fully eligible for CFTC recovery.
Undisclosed award, May 16: In this case, the CFTC opened an investigation into misconduct that was exposed by a whistleblower’s disclosure, which was specific, credible and timely and featured information previously unknown to the Commission, coming from the whistleblower’s own personal observations and experiences.

The CFTC whistleblower program continues to increase its awards and scope and looks to have another successful year in 2022. To learn how to file a disclosure with the Commission, contact an experienced whistleblower lawyer at Kardell Law Group.

By Steve Kardell | Published February 22, 2022 | Posted in Whistleblower Litigation | Tagged CFTC Whistleblower Program, enforcement actions, whistleblower award

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