Recently implemented rule changes allow the Commodity Futures Trading Commission (CFTC) to file whistleblower retaliation claims against employers. These changes, adopted in May, also prevent employers from preemptively forbidding employees from communicating with the CFTC.
The new rules, which were adopted unanimously, also establish a new claims review process. This will help establish initial determinations as to whether whistleblower awards will be granted or denied.
The goal with these rule amendments is that more whistleblowers will come forward with their suspicions when it comes to retaliation. In many cases, would-be whistleblowers are hesitant to report their suspicions, fearing for their career prospects.
Meanwhile, the new rules could also cause companies to be more concerned that whistleblowers will have greater incentives to bypass their internal compliance procedures and go directly to the federal government. This could cause these companies to be more proactive with their compliance and establish greater transparency on their reporting practices.
Added encouragement for whistleblowers
When the CFTC established its whistleblower rules in 2011, it did not have the authority it needed to bring enforcement claims against employers in cases of retaliation. The new interpretation of the agency’s abilities should serve as some extra encouragement to get more whistleblowers to come forward and report retaliation.
Whistleblower rights attorneys have praised the new rule changes, saying it is a sign that the CFTC is committed to protecting its whistleblowers. The new rules are like those of the U.S. Securities and Exchange Commission (SEC).
For further information and advice on filing a whistleblower retaliation claim, work with a skilled Dallas attorney at Whistleblower Law for Managers.