The SEC has now awarded more than $85 million to 32 whistleblowers since the whistleblower program started in 2011.
Entries in Sean McKessy (11)
Congress could not have been any clearer in its statutory design. Nor the SEC any more outspoken in its revitalized approach to government enforcement. Whistleblower rewards work. Even more, they are an indispensable component of the modern regulatory scheme.
The Securities and Exchange Commission Wednesday announced a whistleblower award of $325,000 to a former investment firm employee who missed a bigger payout by waiting too long before tipping the agency about a fraud.
The former head trader at Paradigm Capital Management who was demoted and marginalized after reporting conflicts of interest to the SEC was awarded more than $600,000 Tuesday in the agency's first enforcement action based on retaliation against a whistleblower.
The Securities and Exchange Commission announced an award Wednesday of about $1.5 million to a compliance professional who provided information for an enforcement action against the whistleblower’s company.
The SEC said Tuesday it awarded two whistleblowers more than $875,000 for their tips that helped the agency bring an enforcement action.
The Securities and Exchange Commission said the whistleblower who received the first award under its Dodd-Frank program more than two years ago will collect $150,000 more, thanks to the agency recovering more funds in the case.
The Securities and Exchange Commission filed a "friend-of-the-court" brief on Thursday, arguing that whistleblowers are entitled to protection from employer retaliation, even if they report the wrongdoing only to their employer and not to the SEC.
On January 22, the ABA will host a panel discussion with the directors of three federal whistleblower programs: the SEC, CFTC and IRS. The program will provide an overview of the whistleblower programs and address hypothetical ethical situations often faced by whistleblowers and their attorneys.