CFTC Whistleblower Reward Program

Constantine Cannon Submits Comments on CFTC Proposed Whistleblower Rule Amendments

By the Constantine Cannon Whistleblower Team As we previously reported, the Commodity Futures Trading Commission (CFTC) has proposed amending the CFTC Whistleblower Program and invited interested parties to weigh in on the agency’s proposed change.  Constantine Cannon took up the invitation, formally submitting its views on the proposed rule change and how to make it even better in strengthening the protections...

More Signs of Life with CFTC Whistleblower Program

By the Constantine Cannon Whistleblower Team On June 11, the Commodity Futures Trading Commission (CFTC) announced its publication of a Notice of Proposed Rulemaking (NPR) to amend its whistleblower rules.[1]  The proposed change is quite narrow -- merely incorporating a 30% presumption for whistleblower awards of $5 million or less.  However, it is significant in further signaling the CFTC Whistleblower Program...

CFTC Awards $8M to Five Whistleblowers -- A Sign of More CFTC Whistleblower Awards To Come?

By the Constantine Cannon Whistleblower Team On Monday (June 1), the Commodity Futures Trading Commission (CFTC) announced its award of more than $8 million to five whistleblowers “whose information led to the successful resolution of an enforcement action against a fraudulent scheme.”[1]  It is the fourth CFTC award under the current Trump Administration and comes just a month after the agency anointed

CFTC Announces New Whistleblower Chief

By the Constantine Cannon Whistleblower Team On April 29, the Commodity Futures Trading Commission (CFTC) announced that Raagnee Beri will be the new Director of the CFTC Whistleblower Office.[1]  She replaces Cynthia Lie who had served as the CFTC’s Acting Director for more than a year.  The Whistleblower Chief is the agency’s key interface with whistleblowers under the CFTC Whistleblower Program, which...

CFTC Makes $1.8M Whistleblower Award -- Second Award Under Trump Administration

By the Constantine Cannon Whistleblower Lawyer Team Shortly before the holidays (on December 19), the Commodity Futures Trading Commission (CFTC) announced a $1.8 million award to two whistleblowers “whose information significantly contributed to the successful resolution of enforcement cases involving defrauded investors.”[1]  It is only the second award under the CFTC Whistleblower Program since President...

Whistleblower Question of the Week: How Do Financial Rewards Work for Whistleblowers?

By the Constantine Cannon Whistleblower Team In the United States, financial rewards for whistleblowers are offered through several government programs designed to encourage individuals to report fraud, misconduct, or violations of the law.

What Is a Whistleblower Reward?

By initiating actions under the False Claims Act and other whistleblower reward laws and programs, whistleblowers may receive a percentage of...

Coin Con: Two Companies and Co-Conspirators Pay $25M+ in Crypto Scam

By the Constantine Cannon Whistleblower Team The Commodity Futures Trading Commission (CFTC) continues to expand its oversight of cryptocurrency and digital asset markets, using its authority under the Commodity Exchange Act (CEA) to crack down on fraud. Recent enforcement actions highlight the agency’s aggressive posture in addressing fraud involving virtual currencies. The CFTC’s Whistleblower Program...

CFTC Makes First Whistleblower Award Under Trump, But Reduces Award Because of Whistleblower Delay and Culpability

By the Constantine Cannon Whistleblower Team Last Thursday (May 29), the Commodities Futures Trading Commission (CFTC) announced a whistleblower award of roughly $700,000.¹  According to the agency’s press release promoting the award, the whistleblower “prompted the CFTC to open the investigation,” and “provided substantial assistance and helped the Commission conserve resources during the...

Hang Onto Your Heart and Wallet this Valentines Day: How to Protect Yourself Against Romance Scams

With romance scams, the heart isn’t the only thing being stolen. While people are busy falling for sweet words and flirtatious folly, scammers are working their magic to woo people’s wallets across the globe. In time for Valentine’s Day, the Commodity Futures Trading Commission’s Office of Customer Education and Outreach recently launched an awareness program to combat the epidemic of relationship...

Top 5 CFTC Recoveries for 2024

From our recent survey of top SEC fraud recoveries this past year, we found it was not an especially standout year for the securities regulator in terms of big-dollar hauls.  It was not necessarily a banner year for the Commodity Futures Trading Commission (CFTC) either in terms of its fraud recoveries.  Only five of them brought in 9-digit amounts or higher. But the Number 1 hit -- the eye-popping $12.7 billion...