Page 4 - Sec Whistleblower Program News Today

The U.S. Securities and Exchange Commission issued three separate whistleblower award orders granting over $40 million to four whistleblowers. Each whistleblower voluntarily provided the agency with original information that led to a successful enforcement action.

The U.S. Securities and Exchange Commission issued two whistleblower awards totaling more than $4 million. The awarded whistleblowers provided the SEC with information and assistance which led to successful enforcement actions.

On January 6, the U.S. Securities and Exchange Commission issued a whistleblower award of over $13 million. The awarded whistleblower provided the agency with original information that led to a successful enforcement action.

The SEC published its annual report covering the period from October 1, 2020 to September 30, 2021. The report summarizes its whistleblower bounty program, report on the program’s recent dramatic growth, and highlight key amendments to the SEC’s whistleblower program rules

FY2021 was a record year for the SEC Whistleblower Program. The SEC released its 2021 Report to Congress and it reflects increases in many different metrics. FY2021 marked the highest number of awards to both the number of individuals and in dollar amounts awarded.

The U.S. Securities and Exchange Commission (SEC) issued a joint whistleblower award of more than $1.5 million to two individuals who voluntarily provided the SEC with original information that led to successful enforcement actions.

SEC announced whistleblower awards totaling nearly $2.6 million. The awards, which stem from three separate enforcement actions, were issued to five individuals. The SEC Whistleblower Program has now issued awards totaling approximately $959 to 203 individual whistleblowers.

To win the battle against corruption, the Biden Administration should utilize whistleblower rewards programs at federal agencies to encourage whistleblowers to report bribery, money laundering, and other fraud schemes that would otherwise go undetected.

Two whistleblowers providing info of fraud schemes awarded $10-13 million each, whistleblowers eligible for awards ranging from 10-30% of the penalties collected if SEC brings forth enforcement actions resulting in monetary sanctions exceeding $1 million.

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