A pair of whistleblowers will share a US$2 million award from the U.S. Commodity Futures Trading Commission (CFTC).
The U.S. derivatives regulator said the award is going to a couple of tipsters who provided the agency with “significant information” that prompted the regulator to open an investigation, which uncovered numerous rule violations.
While the details of whistleblower cases are not revealed, the CFTC said the tipsters in this case also shared the same information with another agency that conducted its own separate investigation and shared its findings with the CFTC, helping it build its case.
“This award demonstrates how whistleblowers can play an integral role in our investigations and be rewarded for their significant contributions,” Christopher Ehrman, director of the CFTC’s Whistleblower Office, said in a statement.
“It often takes integrity and courage to report specific, timely, and credible information about misconduct, and such information enhances our ability to police the markets,” he added.
The CFTC has now awarded more than US$90 million under its whistleblower program, resulting in sanctions orders of more than US$730 million.