{"id":322,"date":"2011-08-05T10:34:24","date_gmt":"2011-08-05T10:34:24","guid":{"rendered":"http:\/\/www.whistleblowerlawyerblog.com\/2011\/08\/how_the_new_cftc_whistleblower_1.html"},"modified":"2021-06-11T17:45:10","modified_gmt":"2021-06-11T21:45:10","slug":"how_the_new_cftc_whistleblower_1","status":"publish","type":"post","link":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/how_the_new_cftc_whistleblower_1\/","title":{"rendered":"How the New CFTC Whistleblower Rules Will Operate"},"content":{"rendered":"

When the CFTC announced its final whistleblower rules yesterday<\/a>, it answered many questions about how the new CFTC whistleblower program<\/a> will work.<\/p>\n

David Meister, the CFTC’s Director of the Division of Enforcement, provided this summary according to the unofficial transcript our firm prepared of yesterday’s CFTC public meeting:<\/p>\n

The Commission will pay awards to eligible whistleblowers who provide original information to the Commission leading to a successful Commission enforcement action and the imposition of monetary sanctions in excess of $1 million. <\/p>\n

Congress provided that the amount of the whistleblower award must be between 10% and 30% of sanctions collected in either the Commission action or related action as defined in the rules. The Commission has discretion in determining the amount of the award within that 10 \u2013 30 percent range. <\/p>\n

The rules set forth a number of factors that the Commission will consider in determining the amount of the award. These factors include the significance of the information; the degree of the whistleblower’s assistance; the Commission’s programmatic interest; whether the award enhances the Commission’s ability to enforce the Commodity Exchange Act, protect customers and encourage people to come forward with high quality information; and potential adverse incentives from oversized awards. <\/p>\n

To be award eligible, a whistleblower is not required, under our recommendation– a whistleblower is not required to report his information internally to his employer. Staff believes that such a requirement would deter some whistleblowers from coming forward, which would undermine congressional intent.<\/em>
\n Continue reading \u2192<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

When the CFTC announced its final whistleblower rules yesterday, it answered many questions about how the new CFTC whistleblower program will work. David Meister, the CFTC’s Director of the Division of Enforcement, provided this summary according to the unofficial transcript our firm prepared of yesterday’s CFTC public meeting: The Commission will pay awards to eligible […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-322","post","type-post","status-publish","format-standard","hentry","category-sec-whistleblower-program-cftc-whistleblower-program"],"yoast_head":"\nHow the New CFTC Whistleblower Rules Will Operate — Whistleblower Lawyer Blog — August 5, 2011<\/title>\n<meta name=\"description\" content=\"When the CFTC announced its final whistleblower rules yesterday, it answered many questions about how the new CFTC whistleblower program will work. 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