CFTC Proposes Changes to How Whistleblower Awards Are Calculated
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Table of Contents
The Commodity Futures Trading Commission has proposed updates to the rules governing its whistleblower program. The current system allows individuals who report illegal activity in commodities markets to receive awards between 10 and 30 percent of the money collected from enforcement actions that exceed $1 million.
Why it matters: This matters primarily to people who work in commodities trading and related financial sectors, as well as those with knowledge of potential violations. Clearer rules can help whistleblowers understand what to expect regarding compensation and reduce uncertainty during the claims process. It also affects how the CFTC allocates resources from its Customer Protection Fund to pay these awards.
Who it affects
- Current or former employees in commodities, futures, and derivatives markets who have information about illegal conduct
This notice comes from the Commodity Futures Trading Commission in the Federal Register as a proposed rule; readers should check the original document for full details before relying on it.
Agency: Commodity Futures Trading Commission
Source: Federal Register — read the official document