Perry To Law360: CFTC May Have Erred Too Much in Favor of Confidentiality

The Commodity Futures Trading Commission recently announced that it will make its first award to a whistleblower as part of the Commission’s Whistleblower Program created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. In releasing this information, the CFTC said the person will receive approximately $240,000 for providing valuable information about violations of the Commodity Exchange Act — but that is all it said.

In a Law360 article focusing on the lack of information provided by the CFTC, Braden Perry, a partner with the law firm Kennyhertz Perry, said, “By leaving out virtually all details but the size of the award, the CFTC may have erred too much in favor of whistleblower confidentiality.”

As a former CFTC senior trial attorney, Perry has an in-depth understanding of the challenges related to whistleblowers. “As a regulator, it’s difficult to maintain the balance of confidentiality of the whistleblower and gaining additional interest,” Perry told Law360, adding, “It seems like they could have provided more information.”

Kennyhertz Perry is a business and litigation law firm dedicated to serving entrepreneurs. The Kansas City area firm was founded by John Kennyhertz and Braden Perry, both of whom have extensive experience in business law, litigation and financial services.