On April 4, 2016, the U.S. Commodity Futures Trading Commission (CFTC) issued its third and largest award, of more than $10 million, as part of its Dodd-Frank whistleblower program. As was the case with the CFTC's two previous awards of $240,000 and $290,000—announced in May 2014 and September 2015, respectively—the Agency did not provide details about the whistleblower or the information that led to the enforcement action.
This unprecedented award from the CFTC comes less than a year after Christopher Ehrman, the Director of the CFTC's whistleblower program, predicted that the number of whistleblower awards would increase as the CFTC receives more and more tips each year. In connection with the instant award, Mr. Ehrman said his "hope is that this multimillion dollar award will encourage others to come forward with information that will assist the Commission in protecting our markets." (The CFTC's press release can be accessed here.)
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