The U.S. Commodity Futures Trading Commission (CFTC) is paying a whistleblower more than US$6 million for tipping off the regulator to misconduct.
The U.S. derivatives regulator said that this latest award will be paid to a tipster who “voluntarily provided original information” that resulted in a successful enforcement action.
“The CFTC opened its investigation upon receiving the whistleblower’s information, which was specific, credible and timely,” the regulator said.
The details of whistleblower cases are not revealed in order to protect the identity of tipsters.
With this latest payout, the CFTC said that it has now paid over US$110 million in whistleblower awards in cases that have generated almost US$900 million in relief.
“This award — together with the many that have preceded it — shows that in its short history, the commission’s whistleblower program has significantly strengthened our enforcement program,” said James McDonald, director of enforcement at the CFTC.
“The contribution that whistleblowers have made cannot be overstated,” he said. “We are very grateful for the value that whistleblowers have added to our investigations and litigations.”