The SEC's whistleblower program was established by Congress to incentivize whistleblowers to report specific, timely and credible information about possible federal securities laws violations. The Commission is authorized to provide monetary awards to eligible individuals who come forward with high-quality original information that leads to an SEC enforcement action in which over $1 million in sanctions is ordered. The range for awards is between 10% and 30% of the money collected. Read the FY23...
The Dodd-Frank Wall Street Reform and Consumer Protection Act expanded the protections for whistleblowers and broadened the prohibitions against retaliation. Following the passage of Dodd-Frank, the SEC implemented rules that enabled the SEC to take legal action against employers who have retaliated against whistleblowers. This generally means that employers may not discharge, demote, suspend, harass, or in any way discriminate against an employee in the terms and conditions of employment who has reported conduct to the Commission that the empl ...
The whistleblower persisted in reporting the misconduct internally, which led the employer to conduct its own investigation and eventually report the results to the Commission. This self-report caused the Commission to open an investigation. Further, without the whistleblower's ongoing, extensive, and timely assistance, the staff would not have learned the full context and extent of the employer's misconduct. “Today’s whistleblower learned of misconduct and made the difficult decision to report their concerns. This individual, who was retal ...
Report available on the Web at: www.sec.gov/whistleblower C O N T E N T S Message from the Acting Chief of the Office of the Whistleblower. 1 History and Purpose. 5 Activities of the Office...
§ 240.21F-10 Procedures for making a claim for a whistleblower award in SEC actions that result in monetary sanctions in excess of $1,000,000. § 240.21F-11 Procedures for determining...
Claim an Award ; We post Notices of Covered Action for each SEC action where a final judgment or order, by itself or together with other prior judgments or orders in the same action issued after July 21, 2010, results in monetary sanctions exceeding $1 million. The inclusion of a Notice means only that an order was entered with monetary sanctions exceeding $1 million. By posting a Notice for a particular case, we are not making any determinations either that (i) a whistleblower tip, complaint or referral led to the SEC opening an investigation ...
"The size of today’s award – the highest in our program’s history – not only incentivizes whistleblowers to come forward with accurate information about potential securities law violations, but also reflects the tremendous success of our whistleblower program," said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. "This success directly benefits investors, as whistleblower tips have contributed to enforcement actions resulting in orders requiring bad actors to disgorge ...
SEC Whistleblower Office Announces Results for FY 2022 Agency’s Program Tops $1.3 Billion in Awards since Inception; Rapid Growth in Tips and Awards Continues November 15, 2022 Fiscal...
Executive Order No.13526 (75 Fed. Reg. 707) (prescribing a uniform system for classifying, safeguarding, and declassifying national-security information), or any successor thereto; ; Section 7211 of title 5, United States Code (governing disclosures to Congress); ; Section 1034 of title 10, United States Code, as amended by the Military Whistleblower Protection Act (governing disclosure to Congress by members of the military); ; Section 2302(b)(8) of title 5, United States Code, as amended by the Whistleblower Protection Act of 1989 (governing disclosures of illegality, waste, fraud, abuse or public health or safety threats);
We believe this uptick in whistleblower award claims is attributable to the increased public awareness of the SEC’s whistleblower program and in response to the tens of millions of...