2016 was a banner year for the Dodd-Frank Act’s most significant anti-fraud enforcement provisions: the whistleblower programs at the SEC and CFTC. In the 5 years since these programs were established, whistleblowers have rapidly changed the global securities and commodities compliance landscape. The success of the Dodd-Frank whistleblower programs can be attributed largely to the significant actions the SEC and CFTC have taken signaling that whistleblowers will be rewarded and protected.

Earlier this past year, the SEC surpassed the $130 million mark in total awards paid to whistleblowers. The SEC also set a new bar for whistleblower protection, demonstrating that it will go after companies that retaliate against whistleblowers or have severance or confidentiality agreements that aim to discourage employees from reporting wrongdoing to government enforcement agencies.

The CFTC, meanwhile, paid out in 2016 its largest ever award - $10 million - to a single whistleblower.

With that momentum, 2017 is shaping up to be another transformative year for these programs. Here’s what to expect:

1. More whistleblowers from outside the US will submit tips to the SEC and CFTC, including increasing numbers involving the FCPA.
2. The pace and size of SEC whistleblower awards are likely to continue to increase.
3. The CFTC will finalize new revised rules, spurring more whistleblower tips and a rapid ramp-up of whistleblower awards.
4. The SEC will continue to send a strong message about actions that discourage or retaliate against whistleblower