Whistleblower Provisions Regulation
| Final Rule Issue | Effective Date | Proposed Amendment |
|---|---|---|
| August 4, 2011 | October 24, 2011 | August 30, 2016 |
At its November 10, 2010 open meeting, the CFTC approved a rule proposal regarding the establishment of whistleblower incentives and protection .<ref>Open Meeting on Fourth Series of Proposed Rules under the Dodd-Frank Act. CFTC. Retrieved on March 7, 2011.</ref>
Background[edit]
The Dodd-Frank Act directs the commission to issue final rules regarding the issuance of monetary rewards to individuals who provide information that leads to fines or sanctions in excess of $1,000,000. The act gives discretion as to the amount, only stating that it could be "between 10 and 30 percent of the sanctions collected."
The Proposal[edit]
The Whistleblower rule proposal maintains the "discretionary power" of the commission with regard to the amount awarded to informants. Criteria used in the determination include:
- Significance of the information;
- Degree of assistance provided;
- Programmatic interest; and
- Other criteria.
Awards may be denied to certain government employees and other persons deemed "statutorily ineligible."
Also included in the proposal are provisions for protection of whistleblowers from employer retaliation.
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