Whistleblower Award Determination

H STREET LAW supports the proposed rule to enhance the whistleblower program but suggests refinements such as indexing the $5 million threshold to account for inflation. They also advocate for a legislative increase to the Customer Protection Fund threshold and the adoption of specific timing commitments for preliminary determinations and final orders.

BSM Supervisão de Mercados, a Brazilian self-regulatory entity, submits comments supporting the CFTC's goal of improving whistleblower program efficiency and transparency. While they do not have a financial award program, they share their own reporting model and best practices to foster international dialogue on market integrity.

The Anti-Fraud Coalition, a non-profit organization, expresses mixed views on the proposed rule amendments. They support the proposed 30 percent award presumption for smaller claims to increase efficiency but strongly oppose the move to shift administration of the whistleblower program from the Division of Enforcement to the General Counsel.

Better Markets, Inc. supports the proposed rule to establish a 30% award presumption for meritorious whistleblowers to improve efficiency and transparency. While they support the rule, they suggest the Commission consider a higher $15 million threshold to further reduce processing times.

Constantine Cannon LLP, a law firm, supports the CFTC's proposed 30% presumption for whistleblower awards to reduce delays. However, they argue the proposal does not go far enough and recommend adding concrete timing requirements and a more direct engagement model with enforcement staff to further expedite the process.

An individual retail derivatives market participant supports the proposed 30 Percent Presumption for whistleblower awards, suggesting specific implementation disciplines to ensure predictability. The commenter also requests that the Commission acknowledge a specific eligibility question regarding retail self-clearing members and defer its resolution to a future focused public input process.

Meagan Nugent, an individual member of the public, supports the proposed "Whistleblower Award Determination" rule, specifically the 30 Percent Presumption for claims under $5 million. She argues that the rule is data-driven, addresses delays in awards, and aligns with successful SEC practices while maintaining necessary safeguards.

A partner at the law firm Phillips & Cohen, LLP supports the Proposed Rule because it streamlines the award process for smaller cases and preserves resources for larger ones. However, the commenter suggests adding a provision to ensure that whistleblowers in cases exceeding the $5 million threshold do not receive smaller awards than those who fall under the new presumption.

The commenter opposes the proposed whistleblower award program, arguing that monetary incentives may encourage fraudulent claims and the targeting of political opponents. They suggest that the government should focus on creating rules to protect whistleblowers based on moral decency rather than providing financial rewards.