Whistleblower Provisions Regulation

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Dodd-Frank Timeline, Whistleblower Provisions, CFTC
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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