CFTC whistleblower program to run out of funds - report

Tuesday, 11. May 2021 14:16

The United States Commodity Futures Trading Commission's (CFTC) whistleblower program is at risk of running out of funds due to a potential payout to a former executive of Deutsche Bank AG, valued at over $100 million, The Wall Street Journal reported on Tuesday, citing sources close to the matter.

The executive, the payout to whom was proposed by some CFTC officials, helped the agency reach a $2.5 billion settlement with the German bank after it allegedly manipulated the London interbank offered rate (Libor).

The CFTC leaders asserted that there is no way to both pay the whistleblower and keep the program running with the current funding, which has made them seek congressional action, the outlet reported.

Related Links: Deutsche Bank AG
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Breaking the News / BU