STATEMENT: The CFTC Whistleblower Program Remains Funded, But Structural Issues Need to Be Addressed
Washington, DC – In the early hours of Saturday, the Senate approved the spending measure to keep the government open through mid-March. Within its pages was funding to ensure the CFTC Whistleblower Program remained open.
“Over the past few weeks, we worked to ensure there was a short-term fix in place and the CFTC Whistleblower Office remained open through education and engagement with both sides of the aisle,” said TAF Coalition President & CEO Jacklyn DeMar. “Our efforts continue to reach a bipartisan long-term solution to fix the structural issues in the program and ensure CFTC Whistleblower Program can continue cracking down on fraudsters.”
Structural issues, and the agency’s growing role in regulating cryptocurrency, risk draining the agency’s fund. To address these issues, Sen. Chuck Grassley (R-Iowa) introduced the CFTC Whistleblower Fund Improvement Act to overhaul the agency’s whistleblower program and is expected to re-introduce the legislation in the new Congress.
“The stakeholders understand the importance of the CFTC Whistleblower Program,” said DeMar. “The Office is issuing record fines and is receiving more and more tips each year.”
For more information on this topic, please contact James King, Director of Communications & Digital at [email protected].
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