CFTC Proposed Rules Relating to the Implementation of Whistleblower Provisions

SIFMA and the Futures Industry Association (FIA) provide comments to the Commodity Futures Trading Commission (CFTC) on proposed rules for implementing whistleblower provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), File No. 3038-AD04.  The Dodd-Frank Act, by adding Section 23 of the Commodity Exchange Act (CEA), establishes a whistleblower program that enables the CFTC to pay an award to certain persons who voluntarily provide the CFTC with original information about violations of the CEA.

The associations recognize the value of robust and effective whistleblower statutes and rules, and agree with much of what the CFTC has proposed.  The groups share their observations and recommendations regarding the proposed regulation.

On December 17, 2010, SIFMA submitted comments to the Securities and Exchange Commission (SEC) on proposed rules for implementing proposed rules for implementing the whistleblower provisions of Section 21F of the Securities Exchange Act of 1934, File No. S7-33-10, Release No. 34-63237.