The Securities and Exchange Commission (SEC) announced today (August 25) a whistleblower award of $18 million "to a whistleblower whose information and assistance led to a successful SEC enforcement action." Due to the agency's commitment to keeping the identity of its whistleblowers strictly confidential, it did not disclose who the whistleblower is, or the enforcement action to which the reward is tied.
All we...
Earlier this month (August 4), the Securities and Exchange Commission (SEC) announced its award of $104 million to seven whistleblowers "whose information and assistance led to a successful SEC enforcement action and related actions brought by another agency." It follows a string of blockbuster awards under the SEC Whistleblower Program, which provides whistleblowers who provide information leading to a successful...
The SEC has awarded a whistleblower more than $9 million for sparking an investigation and providing significant information and assistance. According to the SEC, the whistleblower first reported concerns internally, but after gaining no headway from multiple internal reports, made a report to the agency. SEC
It is the largest award ever made to a whistleblower on record under any of the ever-expanding list of whistleblower rewards programs. $279 million by the Securities and Exchange Commission (SEC) "to a whistleblower whose information and assistance led to the successful enforcement of SEC and related actions." That is pretty much all the SEC disclosed in announcing the award because of the agency's strong...
Video game company Activision Blizzard has agreed to pay $35 million to settle charges that alleged it failed to implement controls to collect and review internal complaints about workplace misconduct. The company also violated a whistleblower protection rule by requiring former employees to provide notice if they received information requests from the SEC. SEC
In 2022, the SEC and CFTC redoubled their efforts to preserve market integrity and shut down financial frauds. Both in size and composition, the agencies’ major recoveries look quite different from a year prior. 2021 was all about crypto, with four of the top ten recoveries relating to crypto offerings or exchanges. With the recent collapse of the crypto market—exposing some of the biggest frauds since the...
2022 was a big year for whistleblowers, who once again recouped billions of government dollars and in turn received hundreds of millions in whistleblower rewards. This year’s top rewards came from various government whistleblower programs, including the qui tam provisions of the federal False Claims Act, various state False Claims Act programs, and the Dodd-Frank SEC Whistleblower Program.
Below is a...
The SEC has awarded more than $28 million to a pair of whistleblowers whose information and assistance prompted the SEC to launch an investigation and enable the return of millions of dollars to harmed investors. These actions ultimately led to a successful enforcement action. SEC
The SEC has awarded approximately $18 million to a trio of whistleblowers whose information contributed to a successful enforcement action. The first whistleblower’s detailed and significant information also led the agency to open an investigation and saved considerable staff time and resources. SEC
In recent years, the United States government has recovered billions of dollars going after companies that bribe foreign officials in order to further their business interests, a practice that violates the Foreign Corrupt Practices Act (FCPA). Two principal United States government agencies, the Department of Justice and the Securities and Exchange Commission, investigate and prosecute FCPA violations. Whistleblowers...