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SEC Whistleblower Reward Program

This archive displays posts tagged as relevant to the SEC Whistleblower Reward Program. You may also be interested in the following pages:

Page 1 of 14

July 23, 2019

An international whistleblower has been awarded half a million dollars for helping the SEC with a successful enforcement action.  Pursuant to the Dodd-Frank Act, the whistleblower’s identity was not revealed.  SEC

Question of the Week — Should the SEC expedite its review of whistleblower claims?

Posted  07/19/19
businessmen with clock face
Good things come to those who wait—at least that’s what most experienced whistleblowers will tell you. Whether they filed a complaint in court or submitted evidence to a regulatory agency, those who have reported fraud know firsthand that the legal process can take a great deal of time. Whistleblowers often wait several years before ever seeing the proverbial fruits of their labor. So when it comes to the...

How to Be a Whistleblower

Posted  07/19/19
By Jessica T. Moore
Silhouette of Female Whistleblower
You know about fraud, waste, abuse, or corruption by an individual or a company. Someone is getting by with cheating -- taking money from the government, taxpayers, or investors, or even harming others, such as patients. You are deeply troubled about it and want the proper authorities to stop it. You are worried whether you will be heard, taken seriously, and protected. You wonder if your information fits within a...

Calling all FCPA Whistleblowers — The CFTC Wants You!

Posted  06/19/19
Businessmen Holding Foreign Currency in an Envelope
If you have information on Foreign Corrupt Practices Act (FCPA) violations in the commodities or derivatives markets, the Commodity Futures Trading Commission (CFTC) wants to hear from you. The agency made this clear in a recently-issued CFTC "Whistleblower Alert" calling on all FCPA whistleblowers to step forward and report what they know. The agency even dangled the potential for monetary rewards for those...

Blowing the Whistle on Data Breaches and Cybersecurity Flaws

Posted  06/14/19
Computer Security Profession Sitting at Her Computer Desk
With increasing dependence on technology, cybersecurity has emerged as a critical issue for customers, investors, and government regulators. Data breaches and other cybersecurity incidents can have devastating effects. In 2018, the Council of Economic Advisers estimated that malicious cyber activity cost the U.S. economy up to $109 billion dollars in 2016 alone. Typically, the public only learns of such flaws and...

June 3, 2019

The SEC made a $3 million whistleblower award to be shared by multiple anonymous whistleblowers who jointly submitted a tip to the SEC Whistleblower Program regarding their employer.  The tip, reporting an alleged securities law violation that impacted retail investors, led to a successful enforcement action by the SEC.  The SEC also noted that the whistleblowers had undertaken significant efforts to report the issues internally and seek to have them corrected.  SEC

SEC Gives First Ever Whistleblower Award Under Rule That Incentivizes Internal Reporting

Posted  05/31/19
hand pointing to virtual compliance text
On May 24, the Securities & Exchange Commission announced that it awarded over $4.5 million to a whistleblower who both reported allegations of securities fraud at a company internally and shared this information with the SEC. This is the first time since the creation of its whistleblower rewards program that the SEC awards a claimant under Rule 21-F4(c)(3) of the Exchange Act, a provision designed to encourage...

May 24, 2019

The SEC announced an award of more than $4.5 million to an anonymous whistleblower.  The whistleblower sent an anonymous tip to the company alleging significant wrongdoing, and also submitted the same information to the SEC within 120 days of reporting it to the company. The company opened an internal investigation as a result of the whistleblower's tip, and subsequently self-reported to the SEC and another agency, resulting in a recovery by the government.  SEC

Ted Siedle is the rare SEC whistleblower who allows us to put a face to the name.

Posted  05/24/19
Ted Siedle Whistleblower Headshot
After two years of waiting, the recipient of what was, when first announced, the highest SEC whistleblower award ever was finally paid. This week, he received his share of a $50 million reward to two whistleblowers for exposing conflicts of interest at JP Morgan that led to a $257 million fine by the SEC. Last year, the whistleblower also received $30 million from the CFTC, that agency’s largest award ever, for...

CFTC Makes Another Whistleblower Award

Posted  05/10/19
Commodity Futures Trading Commission Logo
On Monday, the Commodity Futures Trading Commission (CFTC) announced a whistleblower award of roughly $1.5 million. It is the latest in a string of whistleblower awards from an agency that has made it very clear that after a slow start in implementing its whistleblower program it is finally open for whistleblower business. CFTC Enforcement Director James McDonald could not have been more direct on this point:...
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