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SEC Whistleblower Program Reports Stunning 2021 Results

Posted  11/17/21
close up of capitol dome with United States flag
If you have been watching the SEC Whistleblower Program over the last year, you already know that this has been a big year, with the program passing one billion in total whistleblower awards as enforcement matters based on information from whistleblowers have resulted in orders for nearly $5 billion in monetary sanctions.  This week, the SEC released its 2021 Annual Report on the SEC Whistleblower Program, and, even...

CFTC Whistleblower Program 2021 Annual Report Shows Continuing Strength of Program as it Manages Challenging Year

Posted  11/1/21
Cast metal seal of CFTC on brick wall
The Commodity Futures Trading Commission issued its required annual report to Congress covering the CFTC Whistleblower Reward Program.  The report details the successes of the program over the 2021 fiscal year.  Created by the Dodd-Frank Act, the CFTC Whistleblower Program pays awards to eligible whistleblowers who voluntarily provide the Commission with original information, about matters within the CFTC’s...

DOJ Reports Decline in Total Fraud Recoveries in 2020, but Whistleblower Efforts and Rewards Continue

Posted  01/14/21
Department of Justice building entrance
In its annual report of recoveries in fraud and False Claims Act cases, the Department of Justice reported total recoveries of $2.2 billion for the fiscal year ending September 2020.  These recoveries represent the lowest reported DOJ recoveries since 2008. While it is the decline in recoveries that stands out, the 2020 DOJ fraud statistics do share some things in common with prior years.  First, whistleblowers...

IRS Makes its 2020 Whistleblower Report to Congress: Mandatory Awards Hold Steady, but Long Delays Continue

Posted  01/8/21
2020 proved to be a difficult year for most people, but within the tumult of the year the IRS Whistleblower Office continued to work and on December 29, 2020 provided its annual report to Congress (for fiscal year ending September 30, 2020). The report showed a mixed bag of success and difficulties in addressing tax fraud and awarding whistleblowers. The IRS Whistleblower Office made 169 awards to whistleblowers in...

SEC makes its annual whistleblower report to Congress – SPOILER ALERT: BEST YEAR EVER!

Posted  11/20/20
SEC-building
We already know it has been a banner year for the Securities and Exchange Commission's Whistleblower Program (fiscal year ending September 30).  As we previously reported, the record-breaking year included roughly $175 million in awards to 39 whistleblowers, with 15 awards in the month of September alone.  And this does not even include the $114 million blockbuster award the Commission made just three weeks ago,...

Record-Setting Submissions: CFTC Whistleblower Program 2020 Annual Report Documents Increasing Popularity of Program

Posted  11/5/20
Commodity Futures Trading Commission seal on building
Every year, the Commodity Futures Trading Commission is required to report to Congress about the CFTC Whistleblower Reward Program, created by the Dodd-Frank Act, which pays awards to eligible whistleblowers who voluntarily provide the Commission with original information, about matters within the CFTC’s jurisdiction, that leads to the recovery of more than $1 million in monetary sanctions.  This week, the CFTC...

DOJ 2019 Fraud Statistics Tell Story of the Critical Role of Whistleblowers

Posted  01/13/20
DOJ Headquarters building seen from low angle
The Department of Justice released its annual report of civil recoveries for fraud and false claims against the U.S., showing recoveries over $3 billion in settlements and judgments for the fiscal year ending September 2019. The data released by DOJ show the critical role that whistleblowers play in securing these recoveries for the government:  of the $3 billion recovered, over $2.2 billion – 72% – was recovered...

Tax Whistleblowers Gain New Protections and Collect Over $120 Million in Awards in 2019

Posted  01/10/20
Hundred Dollar Bill
The IRS Whistleblower Program released its FY 2019 Annual Report to Congress this week, sharing details on its continued efforts to improve transparency, enforce whistleblower anti-retaliation provisions, and enhance communications. The IRS Whistleblower office also reported that in 2019:
    • The U.S. collected over $616 million in proceeds attributable to whistleblower information; and
    • The IRS paid over...

SEC Whistleblower Program 2019 Annual Report Tells Story of Significant Impact - Despite Beginning the Year with a Government Shutdown

Posted  12/12/19
Securities Exchange Commission Logo
In its 2019 Annual Report to Congress, the SEC Office of the Whistleblower described its program as continuing to have a “significant impact” on enforcement and investor protection efforts.  In the fiscal year that ended in September 2019, the SEC Whistleblower Program received the second highest number of tips in program history, and issued the third largest whistleblower award to date. These numbers...

CFTC Whistleblower Program Annual Report Shows Program Open for Business, yet Challenges Persist

Posted  11/15/19
Screenshot of CFTC Whistleblower Program web page
Fifteen million dollars is how much the United States Commodity Futures Trading Commission’s (CFTC) Whistleblower Program paid whistleblowers in FY 2019 according to the agency’s annual report to Congress.  This amount includes:
  • $7 million to one individual whistleblower;
  • Over $2 million to a non-insider whistleblower who provided independent analysis of market data; and,
  • Close to $1.5 million to a...
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