CFTC Awards Whistleblower $2.5M After ‘Unreasonable Delay’
Law360 (June 24, 2019, 10:19 PM EDT) -- The Commodity Futures Trading Commission has awarded about $2.5 million to a whistleblower who reported a violation of U.S. trading laws after sitting on the information for some time, the regulator announced Monday with public statements driving home the significance report timeliness plays in reward calculations.
Officials overseeing enforcement and whistleblowers at the derivatives regulator said the unidentified individual and case should be a lesson for other employees who come across misconduct.
“We hope this case illustrates the importance of reporting violations to the CFTC as soon as reasonably possible,” James McDonald, director of the CFTC’s Division of Enforcement, said in...
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