Robust New CFTC Whistleblower Bounty Program Goes Into Effect

Harvard Blog Corporate Governance and Financial Regulation

On August 4, 2011, the Commodity Futures Trading Commission (CFTC or Commission) voted 4-1 to adopt final regulations implementing the whistleblower incentives and protections set forth in Section 748 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). See 76 Fed. Reg. 53172 (Aug. 25, 2011) (to be codified at 17 C.F.R. Part 165). The CFTC’s whistleblower program generally obligates the CFTC to pay a bounty to whistleblowers who provide information leading to the assessment of monetary sanctions against those found to have violated the Commodity Exchange Act (CEA). The reach of the whistleblower provisions is quite broad — they apply to “any individual” (not just employees of companies) and to information regarding any possible violation of the CEA. Dodd-Frank Section 748 also creates strong, new anti-retaliation protections for individuals who provide information to the CFTC.

More specifics are in the full post at the link above.

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