August 20, 2024

CFTC awards over $1M to whistleblower

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Orrick, Herrington & Sutcliffe LLP

On August 8, the CFTC announced a $1+ million award to a whistleblower whose original information and voluntary assistance led to a successful CFTC digital assets-related enforcement action. According to the redacted order, the information from the whistleblower, who was the first, prompted the investigation’s start and led to the charges. The first whistleblower’s information also led to the discovery of the misconduct at issue, although it was “somewhat limited.” Conversely, the commission recommended denying the award applications of two other whistleblowers because the information they provided did not lead to the charges. Additionally, the commission also recommended denying the first whistleblower’s application for a related action award with respect to another agency because the other action was not based on the whistleblower’s original information.

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