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Anonymity

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September 11, 2020

Two whistleblowers who made specific, credible, and timely reports to the CFTC of an ongoing fraud have been awarded an undisclosed sum.  The first whistleblower, based in the U.S., made the first report and provided information and documents that would have otherwise been difficult to obtain.  The second whistleblower, based abroad, provided additional information, including the wrongdoers’ attempts to avoid detection.  According to the CFTC, the whistleblowers’ joint efforts helped lead to a successful enforcement action.  CFTC

September 1, 2020

The SEC made a $2.5 million whistleblower award to two outsiders who submitted a whistleblower tip based on their detailed independent analysis of a company's public filings.  The whistleblowers provided helpful assistance during the investigation, and their submission ultimately led to several successful enforcement actions.  The SEC did not disclose their identity or the target of the underlying enforcement actions.  SEC

Constantine Cannon Attorneys Provide Comments on Model Whistleblower Award and Protection Act

silver whistle with Securities Exchange Commission logo
Following in the footsteps of the hugely successful SEC Whistleblower Program, which recently announced its largest-ever reward of $50 million, the North American Securities Administrators Association (NASAA) has proposed a Model Whistleblower Award and Protection Act that would serve as a guide for states across North America who wish to enact a compelling whistleblower program to bolster their securities...

Work-From-Home Brings Increase in SEC Whistleblower Tips, Demonstrating Need for Whistleblower Protection and Support

Posted  06/10/20
By Ronny Valdes
silver whistle with Securities Exchange Commission logo
This month, the Wall Street Journal reported that the SEC has been receiving a “surge” in whistleblower reports under the SEC Whistleblower Program. The article, Tips to SEC Surge as Working From Home Emboldens Whistleblowers, states that the SEC received approximately 4,000 tips between mid-March and mid-May – in the heart of the pandemic – which represented a 35% increase over the equivalent period in 2019....

June 9, 2020

An unnamed whistleblower has been awarded $6 million for providing what the CFTC called specific, credible, and timely information that ultimately led to a successful enforcement action.  Since the agency’s whistleblower program was started in 2014, the CFTC has recovered nearly $900 million through whistleblower tips, and has awarded over $110 million to the whistleblowers involved with those recoveries.  CFTC
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