Michael Filoromo Discusses Record $200 Million CFTC Award
November 2, 2021
Partner Michael Filoromo was recently quoted in a Regulatory Compliance Watch article, “A message for CCO’s in record award.”
In September, the CFTC awarded a $200 million payout to a whistleblower who helped the Commission and the UK’s Financial Conduct Authority bring a combined $2.5 billion in sanctions against Deutsche Bank in 2015. Mr. Filoromo called it “an eye-popping award.” He noted that it could take some months for the whistleblower to receive the payout, although this is a short timeline compared to the nine years that have elapsed since the whistleblower first submitted information to the CFTC and the six years since the fines were issued.
Read the full article here.