Archive

In Their Own Words… SEC Chairman Paul Atkins on Protecting Whistleblowers

By the Constantine Cannon Whistleblower Team On October 7, 2025, SEC Chairman Paul Atkins gave a keynote address at the 25th Annual A.A. Sommer, Jr. Lecture on Corporate, Securities, and Financial Law at Fordham School of Law.¹ Atkins’s speech centered around the Wells process, which is a process that usually occurs at the end of an investigation where SEC enforcement staff notify potential respondents or...

Stream of SEC Whistleblower Awards Continues with Five New Awards -- But Payouts Remain Small

By the Constantine Cannon Whistleblower Team It was just a month ago when we reported -- after a wave of SEC whistleblower awards -- that the SEC Whistleblower Program was alive and well.  Up until then, the SEC had been relatively sparse with its awards this year under the SEC Whistleblower Program and many had questioned whether the SEC’s support for the program was losing steam.  But with the SEC issuing...

Frank’s Founder and Former CEO Sentenced to Prison for Securities Fraud

By the Constantine Cannon Whistleblower Team Fast money based on fiction often ends up in flames.  A few months ago, we highlighted the case involving Charlie Javice, the founder and former CEO of startup Frank, in our “Fake It Till You Make It” article, which analyzed risks that startups and their employees face when “fake-it-till-you-make-it” culture crosses the line into fraud. On September 29,...

SEC Chair Atkins Doubles Down on More Targeted SEC Enforcement Approach -- Whistleblowers Still Wanted

By the Constantine Cannon Whistleblower Team

A Newly Targeted SEC Under Atkins

There is a new Securities Sheriff in town with President Trump’s appointment of Paul Atkins as Chair of the Securities and Exchange Commission (SEC).  We have previously posted on what an Atkins-led SEC might look like (especially for whistleblowers) and the new direction the SEC has taken under his leadership so far.  By all...

SEC Whistleblower Program Alive and Well with Recent Wave of Whistleblower Awards

By the Constantine Cannon Whistleblower Team

Questions on the SEC's Continued Support of Whistleblowers

Like most federal agencies, since President Trump took office the Securities and Exchange Commission (SEC) has experienced major staffing cuts and a significantly scaled-back enforcement approach.  At the same time, the agency has seemingly become more stingy in making whistleblower awards under the SEC...

UPDATE: Continued Legal Challenges for Former Startup CEO Charged with Fraud

By the Constantine Cannon Whistleblower Team A few months ago, this blog posted on a trio of startup scandals related to Theranos, Frank, and IRL.  The post discussed the legal problems that can arise when “fake-it-till-you-make-it” startup culture crosses the line, and it highlighted the crucial role whistleblowers can play in uncovering fraud.  Recent developments indicate continued legal troubles for the...

Judge Meg Ryan Named SEC Director of Enforcement -- What It Means For SEC Whistleblowers

By the Constantine Cannon Whistleblower Team

An Unconventional Pick to Lead SEC Enforcement

Last Thursday (August 21), the Securities and Exchange Commission (SEC) announced that Judge Margaret “Meg” Ryan will become the new SEC Director of Enforcement.¹  She will take over for Acting Enforcement Director Sam Waldon, who will return to his prior post of SEC Chief Counsel.  Judge Ryan’s appointment is a...

Whistleblower Question of the Week: How Do Financial Rewards Work for Whistleblowers?

By the Constantine Cannon Whistleblower Team In the United States, financial rewards for whistleblowers are offered through several government programs designed to encourage individuals to report fraud, misconduct, or violations of the law.

What Is a Whistleblower Reward?

By initiating actions under the False Claims Act and other whistleblower reward laws and programs, whistleblowers may receive a percentage of...

SEC Issues Three Orders Granting a Total of $7.5 Million in Whistleblower Awards

By the Constantine Cannon Whistleblower Team On July 16, 2025, the SEC published three new orders determining whistleblower awards.  Per the SEC’s usual practice, the orders are heavily redacted to protect, among other things, the confidentiality of the whistleblowers who provided the tips to the SEC.  Nevertheless, a few important takeaways can be found by reading through the (redacted) lines.

1. SEC Awards...

A Case Over $14M Whistleblower Award Serves as a Reminder of Benefits and Risks of Co-Whistleblowers Working Together

By the Constantine Cannon Whistleblower Team There is often strength in numbers.  Two or more whistleblowers working together can be a potent combination to bring truth to light.  Each may bring unique knowledge and information, and together the co-whistleblowers can reveal a broader scope or clearer picture of the fraud and improve the chances of a successful outcome – in other words, the whole can be greater...