Statement of Christopher Ehrman, Partner, Phillips & Cohen, and the former Director of the CFTC’s Whistleblower Office, on the CFTC’s Notice of Proposed Rulemaking Concerning Whistleblower Rules:
“It is great to see the CFTC proposing new rules designed to streamline awards with a presumption of thirty percent for awards of $5 million or less. I think, however, the Commission should rethink its proposal to move the Whistleblower Office to the Office of General Counsel. The WBO has been historically aligned with the Division of Enforcement and enjoyed its greatest successes with that structure. The SEC has always housed its Office of the Whistleblower in the Division of Enforcement. If the CFTC’s goal is to become more strategically aligned with the SEC, it should ensure that the WBO remains within the purview of the Enforcement Division.”
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